Endocyte Downgraded by Piper Jaffray to Neutral (ECYT)
Endocyte (NASDAQ:ECYT) was downgraded by equities researchers at Piper Jaffray from an “overweight” rating to a “neutral” rating in a research report issued on Friday, ARN reports. They currently have a $13.50 price objective on the stock. Piper Jaffray’s price objective indicates a potential downside of 22.32% from the company’s current price.
Shares of Endocyte (NASDAQ:ECYT) traded down 61.22% on Friday, hitting $6.74. The stock had a trading volume of 10,127,181 shares. Endocyte has a one year low of $8.18 and a one year high of $33.70. The stock has a 50-day moving average of $20.01 and a 200-day moving average of $13.82. The company’s market cap is $243.9 million.
Endocyte (NASDAQ:ECYT) last posted its quarterly earnings results on Friday, May 2nd. The company reported ($0.09) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.14) by $0.05. The company had revenue of $17.30 million for the quarter, compared to the consensus estimate of $15.07 million. Analysts expect that Endocyte will post $-0.27 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on ECYT. Analysts at Robert W. Baird downgraded shares of Endocyte from an “outperform” rating to a “neutral” rating in a research note on Friday. They now have a $8.00 price target on the stock, down previously from $36.00. Separately, analysts at Wedbush reiterated an “outperform” rating on shares of Endocyte in a research note on Tuesday, March 25th. They now have a $65.00 price target on the stock, up previously from $23.00. Finally, analysts at Chardan Capital raised their price target on shares of Endocyte from $20.00 to $43.00 in a research note on Tuesday, March 25th. They now have a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $31.31.
Endocyte, Inc (NASDAQ:ECYT) is a biopharmaceutical company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.