Endocyte (NASDAQ:ECYT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.
According to Zacks, “In October 2017, Endocyte accelerated its path to commercialization as it acquired the rights to PSMA-617, being evaluated for the treatment of prostate cancer. The candidate represents a more than $1 billion market opportunity and its development is now the main priority of the company. Currently, the company plans to focus on its most promising programs – lutetium PSMA-617 radioligand therapy and prostate cancer, and CAR T-cell small-molecule drug conjugates (SMDC) adaptor platform. In the last one year, shares of the company have outperformed the industry. However, Endocyte has very few candidates in its pipeline with all of them in the early or mid-stages of development. With no approved product in its portfolio at the moment, Endocyte has to depend heavily on its partners for top-line growth. Endocyte’s products will face intense competition in the market from both large pharma companies and small and mid-sized companies.”
Separately, ValuEngine downgraded Endocyte from a “hold” rating to a “sell” rating in a report on Tuesday, November 14th.
Endocyte (NASDAQ:ECYT) last announced its quarterly earnings results on Monday, November 6th. The biopharmaceutical company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.20). The business had revenue of $0.03 million for the quarter. Endocyte had a negative net margin of 82,235.72% and a negative return on equity of 38.91%. Endocyte’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.21) earnings per share. equities analysts predict that Endocyte will post -1.24 EPS for the current fiscal year.
In other Endocyte news, VP Christopher P. Leamon sold 23,231 shares of the stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $5.04, for a total value of $117,084.24. Following the transaction, the vice president now owns 150,579 shares of the company’s stock, valued at $758,918.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Philip S. Low sold 50,511 shares of the stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $4.41, for a total value of $222,753.51. The disclosure for this sale can be found here. In the last three months, insiders sold 124,253 shares of company stock worth $562,591. 14.86% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of ECYT. Concannon Wealth Management LLC lifted its holdings in Endocyte by 6.5% in the second quarter. Concannon Wealth Management LLC now owns 32,639 shares of the biopharmaceutical company’s stock valued at $105,000 after acquiring an additional 2,000 shares during the period. Stifel Financial Corp lifted 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 acquiring an additional 1,711 shares during the period. Two Sigma Investments LP bought a new position in Endocyte in the fourth quarter valued at about $140,000. Dimensional Fund Advisors LP lifted 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 acquiring an additional 25,003 shares during the period. Finally, Stoneridge Investment Partners LLC lifted its holdings in Endocyte by 40.0% in the first quarter. Stoneridge Investment Partners LLC now owns 57,406 shares of the biopharmaceutical company’s stock valued at $148,000 after acquiring an additional 16,399 shares during the period. 17.47% of the stock is currently owned by institutional investors.
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Endocyte Inc (Endocyte) is a biopharmaceutical company. The Company is engaged in developing therapies for the treatment of cancer and inflammatory diseases. The Company uses its technology to create small molecule drug conjugates (SMDCs) and companion imaging diagnostics. The Company’s pipeline includes Folate-Tubulysin (EC1456), the Company’s second generation SMDC, also targets the folate receptor; PSMA Tubulysin (EC1169), the Company’s non-folate SMDC, which is a tubulysin therapeutic targeting PSMA; Vintafolide (Folate DAVLBH), SMDC, vintafolide, targets the folate receptor with the anti-cancer drug payload DAVLBH; Folate-DNA alkylator (EC1788), which is a folate receptor-targeted SMDC with a potent DNA alkylator drug; Folate-Aminopterin (EC1669) is a folate receptor-targeted SMDC for the treatment in inflammatory diseases, and Folate-mTor inhibitor (EC0371), which is a folate receptor-targeted SMDC for the treatment of polycystic kidney disease(PKD).
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