Endocyte Stock Price Up 4.5% After Strong Earnings (ECYT)
Endocyte (NASDAQ:ECYT) rose 4.5% during mid-day trading on Monday after the company announced better than expected quarterly earnings, Analyst Ratings News reports. The company traded as high as $7.23 and last traded at $6.92, with a volume of 4,685,965 shares traded. The stock had previously closed at $6.62.
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.
ECYT has been the subject of a number of recent research reports. Analysts at Chardan Capital cut their price target on shares of Endocyte from $43.00 to $26.00 in a research note on Monday. They now have a “buy” rating on the stock. Separately, analysts at RBC Capital cut their price target on shares of Endocyte from $46.00 to $20.00 in a research note on Monday. They now have an “outperform” rating on the stock. Finally, analysts at Brean Capital cut their price target on shares of Endocyte from $41.00 to $22.00 in a research note on Friday. They now have a “buy” rating on the stock. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Endocyte presently has an average rating of “Buy” and an average price target of $27.51.
The stock has a 50-day moving average of $19.81 and a 200-day moving average of $13.80. The company’s market cap is $248.3 million.
Endocyte, Inc (NASDAQ:ECYT) is a biopharmaceutical company.
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