Endocyte, Inc. (ECYT) Raised to Hold at Zacks Investment Research
Endocyte, Inc. (NASDAQ:ECYT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Friday.
According to Zacks, “Endocyte reported a narrower than expected a loss in the first quarter of 2017. Currently, the company is focused on the development of two candidates, EC1456 and EC1169, both of which are currently in early-stage studies. The company is working on the development of companion imaging agents that help to identify patients who will benefit from its product, upon approval. Further, Endocyte’s successful development of targeted small-molecule drug conjugates (SMDCs) that are able to penetrate deep into dense solid tumors and have a shorter half-life could help the company gain an edge over existing therapies However, with no approved product in its portfolio at the moment, Endocyte has to depend heavily on its partners for top-line growth. Shares of the company have underperformed in the Medical-Drugs industry.”
ECYT has been the subject of several other research reports. Wedbush restated an “outperform” rating on shares of Endocyte in a research report on Thursday, May 11th. Cowen and Company restated a “buy” rating on shares of Endocyte in a research report on Wednesday, April 5th.
Endocyte (NASDAQ:ECYT) traded down 1.88% during mid-day trading on Friday, hitting $2.61. 317,483 shares of the stock traded hands. The firm’s market cap is $110.85 million. Endocyte has a 1-year low of $1.98 and a 1-year high of $4.15. The stock has a 50-day moving average of $2.40 and a 200 day moving average of $2.48.
Endocyte (NASDAQ:ECYT) last released its quarterly earnings results on Wednesday, May 10th. The biopharmaceutical company reported ($0.27) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.01. The business had revenue of $0.01 million during the quarter. Endocyte had a negative net margin of 57,108.57% and a negative return on equity of 25.17%. The firm’s revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.24) EPS. On average, equities analysts expect that Endocyte will post ($1.20) EPS for the current year.
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A number of institutional investors have recently made changes to their positions in ECYT. Two Sigma Investments LP bought a new position in shares of Endocyte during the fourth quarter worth about $140,000. Baker BROS. Advisors LP bought a new position in shares of Endocyte during the third quarter worth about $2,685,000. FMR LLC raised its position in shares of Endocyte by 0.7% in the fourth quarter. FMR LLC now owns 3,484,410 shares of the biopharmaceutical company’s stock worth $8,885,000 after buying an additional 23,670 shares in the last quarter. Stoneridge Investment Partners LLC raised its position in shares of Endocyte by 40.0% in the first quarter. Stoneridge Investment Partners LLC now owns 57,406 shares of the biopharmaceutical company’s stock worth $148,000 after buying an additional 16,399 shares in the last quarter. Finally, State Street Corp raised its position in shares of Endocyte by 2.7% in the fourth quarter. State Street Corp now owns 620,248 shares of the biopharmaceutical company’s stock worth $1,582,000 after buying an additional 16,289 shares in the last quarter. Hedge funds and other institutional investors own 37.04% of the company’s stock.
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