Evercore Begins Coverage on Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA)

Investment analysts at Evercore initiated coverage on shares of Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) in a note issued to investors on Wednesday, Marketbeat.com reports. The brokerage set an “outperform” rating and a $46.00 price target on the stock. Evercore’s price objective indicates a potential upside of 79.48% from the company’s current price.

DMRA has been the subject of a number of other reports. Guggenheim restated a “buy” rating and issued a $40.00 price objective (up from $36.00) on shares of Damora Therapeutics, Inc. Common Stock in a report on Tuesday, February 17th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Damora Therapeutics, Inc. Common Stock in a report on Monday, December 29th. Zacks Research upgraded shares of Damora Therapeutics, Inc. Common Stock to a “hold” rating in a research report on Friday, January 9th. Leerink Partners initiated coverage on shares of Damora Therapeutics, Inc. Common Stock in a research note on Wednesday, January 7th. They issued an “outperform” rating and a $46.00 price target for the company. Finally, Lifesci Capital upgraded shares of Damora Therapeutics, Inc. Common Stock to a “strong-buy” rating in a research report on Monday, February 2nd. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $44.25.

Damora Therapeutics, Inc. Common Stock Price Performance

NASDAQ:DMRA opened at $25.63 on Wednesday. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of -2.12 and a beta of 1.42. The business has a 50 day moving average of $27.00 and a 200 day moving average of $19.49. Damora Therapeutics, Inc. Common Stock has a 1-year low of $2.01 and a 1-year high of $38.33.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of DMRA. Two Sigma Investments LP bought a new position in Damora Therapeutics, Inc. Common Stock during the 3rd quarter valued at approximately $76,000. Virtu Financial LLC bought a new stake in shares of Damora Therapeutics, Inc. Common Stock in the 3rd quarter worth approximately $49,000. Connective Capital Management LLC purchased a new position in shares of Damora Therapeutics, Inc. Common Stock during the third quarter valued at approximately $100,000. Sigma Planning Corp purchased a new position in shares of Damora Therapeutics, Inc. Common Stock during the fourth quarter valued at approximately $334,000. Finally, Geode Capital Management LLC bought a new position in shares of Damora Therapeutics, Inc. Common Stock during the fourth quarter valued at approximately $266,000. Institutional investors own 14.20% of the company’s stock.

About Damora Therapeutics, Inc. Common Stock

Galecto Inc is a clinical‐stage biotechnology company developing small‐molecule therapies that target key pathways involved in fibrotic and malignant diseases. The company’s research focuses on inhibiting galectin‐3, an extracellular carbohydrate‐binding protein implicated in inflammation, fibrosis and tumor progression, as well as lysyl oxidase‐like 2 (LOXL2), an enzyme that crosslinks collagen and elastin in fibrotic tissue.

Its lead programs include GB0139, an inhaled galectin‐3 inhibitor in Phase II trials for idiopathic pulmonary fibrosis and other fibrosing lung diseases, and GB1211, an oral galectin‐3 inhibitor being evaluated for systemic fibrotic disorders.