Endocyte Inc. (NASDAQ:ECYT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The firm currently has a $3.75 price objective on the biopharmaceutical company’s stock. Zacks Investment Research’s price target points to a potential upside of 14.33% from the company’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 reiterated a “buy” rating on shares of Endocyte in a research note on Tuesday, July 12th. Five analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and an average target price of $8.19.
Endocyte (NASDAQ:ECYT) opened at 3.28 on Wednesday. Endocyte has a 12 month low of $2.65 and a 12 month high of $5.63. The stock’s market cap is $138.62 million. The firm has a 50-day moving average price of $3.11 and a 200-day moving average price of $3.38.
Endocyte (NASDAQ:ECYT) last released its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.01. Endocyte had a negative return on equity of 24.71% and a negative net margin of 58,957.14%. During the same period last year, the business earned ($0.25) EPS. Equities research analysts expect that Endocyte will post ($1.12) earnings per share for the current fiscal year.
Several institutional investors have recently made changes to their positions in ECYT. Concannon Wealth Management LLC increased its stake in shares of Endocyte by 6.5% in the second quarter. Concannon Wealth Management LLC now owns 32,639 shares of the biopharmaceutical company’s stock worth $105,000 after buying an additional 2,000 shares during the last quarter. Nationwide Fund Advisors increased its stake in shares of Endocyte by 31.4% in the second quarter. Nationwide Fund Advisors now owns 33,417 shares of the biopharmaceutical company’s stock worth $107,000 after buying an additional 7,989 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of Endocyte by 1.7% in the second quarter. ProShare Advisors LLC now owns 36,028 shares of the biopharmaceutical company’s stock worth $116,000 after buying an additional 585 shares during the last quarter. Stifel Financial Corp bought a new stake in shares of Endocyte during the second quarter worth $127,000. Finally, Cribstone Capital Management LLC increased its stake in shares of Endocyte by 45.5% in the second quarter. Cribstone Capital Management LLC now owns 47,349 shares of the biopharmaceutical company’s stock worth $152,000 after buying an additional 14,808 shares during the last quarter. Hedge funds and other institutional investors own 36.48% of the company’s stock.
Endocyte Company Profile
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & 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 companies with MarketBeat.com's FREE daily email newsletter.