Wedbush Upgrades Endocyte, Inc. (ECYT) to “Outperform”
Endocyte, Inc. (NASDAQ:ECYT) was upgraded by investment analysts at Wedbush from a “neutral” rating to an “outperform” rating in a research note issued on Tuesday. The firm presently has a $7.00 target price on the biopharmaceutical company’s stock, up from their previous target price of $2.00. Wedbush’s target price points to a potential upside of 14.75% from the stock’s previous close.
A number of other brokerages have also issued reports on ECYT. ValuEngine raised Endocyte from a “strong sell” rating to a “sell” rating in a research report on Monday. Zacks Investment Research lowered Endocyte from a “hold” rating to a “sell” rating in a research report on Monday, August 14th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $7.00.
Endocyte (NASDAQ ECYT) traded down 5.90% on Tuesday, hitting $5.74. The stock had a trading volume of 2,705,365 shares. Endocyte has a 12-month low of $1.17 and a 12-month high of $6.55. The firm’s market cap is $244.38 million. The company’s 50 day moving average is $1.69 and its 200 day moving average is $1.88.
Endocyte (NASDAQ:ECYT) last announced its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.28) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.25) by ($0.03). Endocyte had a negative return on equity of 32.68% and a negative net margin of 61,437.14%. The business had revenue of $0.01 million for the quarter. During the same quarter last year, the firm posted ($0.25) earnings per share. On average, equities research analysts expect that Endocyte will post ($1.06) EPS for the current fiscal year.
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Institutional investors have recently made changes to their positions in the stock. Stifel Financial Corp increased its holdings in Endocyte by 3.9% in the first quarter. Stifel Financial Corp now owns 45,353 shares of the biopharmaceutical company’s stock valued at $112,000 after buying an additional 1,711 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Endocyte by 34.1% in the second quarter. Dimensional Fund Advisors LP now owns 98,313 shares of the biopharmaceutical company’s stock valued at $147,000 after buying an additional 25,003 shares during the last quarter. Teachers Advisors LLC increased its holdings in Endocyte by 17.1% in the fourth quarter. Teachers Advisors LLC now owns 65,119 shares of the biopharmaceutical company’s stock valued at $166,000 after buying an additional 9,506 shares during the last quarter. Spark Investment Management LLC bought a new stake in Endocyte in the second quarter valued at about $177,000. Finally, LMR Partners LLP bought a new stake in Endocyte in the second quarter valued at about $196,000. 28.80% of the stock is owned by hedge funds and other institutional investors.
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