Endocyte Inc. (ECYT) Upgraded by Zacks Investment Research to “Buy”
Endocyte Inc. (NASDAQ:ECYT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The brokerage currently has a $3.75 target price on the biopharmaceutical company’s stock. Zacks Investment Research’s target price would suggest a potential upside of 15.03% from the stock’s previous close.
According to Zacks, “Endocyte is a development-stage biopharmaceutical company, focused on bringing targeted therapies for the treatment of cancer and inflammatory diseases to market. The company uses its proprietary technology platform to develop various new small-molecule drug conjugates for a range of diseases. Endocyte's efforts to develop its pipeline are impressive. In addition, the company is working on the development of companion imaging agents that help to identify patients who are most likely to benefit from its product. However, with no approved product in its portfolio at the moment, Endocyte has to depend heavily on its partners for top-line growth. Moreover, vintafolide, in combination with docetaxel, demonstrated higher rates of hematologic and peripheral neuropathy adverse events in a phase IIb study. Consequently, Endocyte shifted its focus to the development of its second-generation folate targeted agent, EC1456, in second-line NSCLC.”
Separately, Credit Suisse Group AG reissued a “buy” rating on shares of Endocyte in a report on Tuesday, July 12th. Five equities research analysts have rated the stock with a buy rating, Endocyte currently has an average rating of “Buy” and a consensus price target of $8.19.
Endocyte (NASDAQ:ECYT) traded up 5.83% during trading on Wednesday, hitting $3.45. The stock had a trading volume of 126,487 shares. The company’s 50 day moving average is $3.10 and its 200 day moving average is $3.38. The firm’s market cap is $145.81 million. Endocyte has a 52-week low of $2.65 and a 52-week high of $5.63.
Endocyte (NASDAQ:ECYT) last announced its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.01. Endocyte had a negative net margin of 58,957.14% and a negative return on equity of 24.71%. During the same quarter last year, the firm earned ($0.25) EPS. Equities research analysts forecast that Endocyte will post ($1.12) earnings per share for the current year.
A number of large investors have recently bought and sold shares of ECYT. Concannon Wealth Management LLC raised its stake in Endocyte by 6.5% in the second quarter. Concannon Wealth Management LLC now owns 32,639 shares of the biopharmaceutical company’s stock valued at $105,000 after buying an additional 2,000 shares during the last quarter. Nationwide Fund Advisors raised its stake in Endocyte by 31.4% in the second quarter. Nationwide Fund Advisors now owns 33,417 shares of the biopharmaceutical company’s stock valued at $107,000 after buying an additional 7,989 shares during the last quarter. ProShare Advisors LLC raised its stake in Endocyte by 1.7% in the second quarter. ProShare Advisors LLC now owns 36,028 shares of the biopharmaceutical company’s stock valued at $116,000 after buying an additional 585 shares during the last quarter. Stifel Financial Corp acquired a new stake in Endocyte during the second quarter valued at approximately $127,000. Finally, Cribstone Capital Management LLC raised its stake in Endocyte by 45.5% in the second quarter. Cribstone Capital Management LLC now owns 47,349 shares of the biopharmaceutical company’s stock valued at $152,000 after buying an additional 14,808 shares during the last quarter. 36.48% of the stock is currently owned by institutional investors.
Receive News & Stock Ratings for Endocyte Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Endocyte Inc. and related stocks with our FREE daily email newsletter.