IVERIC bio Inc (NASDAQ:ISEE) has earned a consensus recommendation of “Hold” from the six ratings firms that are covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $1.25.
A number of analysts have recently issued reports on the stock. Cowen assumed coverage on shares of IVERIC bio in a report on Friday, January 24th. They set an “outperform” rating for the company. BidaskClub downgraded shares of IVERIC bio from a “buy” rating to a “hold” rating in a report on Saturday. Wedbush assumed coverage on shares of IVERIC bio in a report on Monday, January 6th. They set an “outperform” rating for the company. Finally, ValuEngine downgraded shares of IVERIC bio from a “sell” rating to a “strong sell” rating in a report on Tuesday, February 4th.
In other news, COO Keith Westby sold 4,530 shares of IVERIC bio stock in a transaction on Friday, December 13th. The shares were sold at an average price of $6.60, for a total transaction of $29,898.00. Following the completion of the sale, the chief operating officer now directly owns 45,106 shares of the company’s stock, valued at approximately $297,699.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Glenn Sblendorio acquired 62,500 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were bought at an average cost of $5.64 per share, with a total value of $352,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 176,854 shares in the company, valued at approximately $997,456.56. The disclosure for this purchase can be found here. Insiders have sold a total of 17,465 shares of company stock valued at $120,649 over the last ninety days. 4.30% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Lindbrook Capital LLC bought a new position in IVERIC bio during the fourth quarter valued at approximately $26,000. Bank of New York Mellon Corp purchased a new stake in shares of IVERIC bio in the second quarter worth $29,000. Northern Trust Corp purchased a new stake in shares of IVERIC bio in the second quarter worth $114,000. Alpine Global Management LLC purchased a new stake in shares of IVERIC bio in the fourth quarter worth $151,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of IVERIC bio by 11,914.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 18,382 shares of the company’s stock worth $158,000 after purchasing an additional 18,229 shares in the last quarter. 36.60% of the stock is owned by institutional investors.
Shares of NASDAQ:ISEE opened at $6.56 on Friday. The firm has a fifty day moving average price of $7.23 and a two-hundred day moving average price of $3.62. IVERIC bio has a one year low of $0.91 and a one year high of $8.97. The company has a market cap of $283.94 million, a price-to-earnings ratio of 4.05 and a beta of 2.18.
IVERIC bio (NASDAQ:ISEE) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.35) EPS for the quarter. As a group, sell-side analysts forecast that IVERIC bio will post -1.34 earnings per share for the current fiscal year.
IVERIC bio Company Profile
IVERIC bio, Inc, a biopharmaceutical company, develops novel therapies to treat ophthalmic diseases with a focus on age-related and orphan retinal diseases. The company is developing Zimura, an inhibitor of complement factor C5, which is in Phase IIb clinical trials for the treatment of geographic atrophy (GA), a late-stage form of dry age-related macular degeneration (AMD) characterized by retinal cell death and degeneration of tissue in the central portion of the retina known as the macula; and autosomal recessive Stargardt disease (STGD1), which is an orphan inherited retinal disease (IRD).
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