Endocyte Inc. (NASDAQ:ECYT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “Endocyte is a development-stage biopharmaceutical company, focused on the development of therapies for cancer and inflammatory diseases. The company uses its proprietary technology platform to develop various new small-molecule drug conjugates for a range of diseases. In addition, the company is working on the development of companion imaging agents that help to identify patients who are most likely to benefit from its product. Estimates have been mostly stable ahead of the company’s Q3 earnings release. However, with no approved product in its portfolio at the moment, Endocyte has to depend heavily on its partners for top-line growth. Moreover, vintafolide, in combination with docetaxel, demonstrated higher rates of hematologic and peripheral neuropathy adverse events in a phase IIb study. Consequently, Endocyte shifted its focus to the development of its second-generation folate targeted agent, EC1456, in second-line NSCLC.”
Separately, Credit Suisse Group AG reissued a “buy” rating on shares of Endocyte in a research note on Tuesday, July 12th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $8.19.
Endocyte (NASDAQ:ECYT) traded up 3.46% during midday trading on Tuesday, reaching $2.99. The company had a trading volume of 31,109 shares. Endocyte has a 12-month low of $2.65 and a 12-month high of $5.63. The stock’s 50 day moving average is $3.08 and its 200 day moving average is $3.37. The firm’s market capitalization is $126.37 million.
Endocyte (NASDAQ:ECYT) last announced its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.25) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.26) by $0.01. Endocyte had a negative return on equity of 24.71% and a negative net margin of 58,957.14%. During the same period in the previous year, the firm earned ($0.25) earnings per share. Equities research analysts expect that Endocyte will post ($1.12) earnings per share for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in ECYT. Bellevue Group AG bought a new position in shares of Endocyte during the first quarter valued at about $310,000. Renaissance Technologies LLC boosted its position in shares of Endocyte by 23.9% in the first quarter. Renaissance Technologies LLC now owns 63,400 shares of the biopharmaceutical company’s stock valued at $197,000 after buying an additional 12,239 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Endocyte by 2.5% in the first quarter. Geode Capital Management LLC now owns 245,677 shares of the biopharmaceutical company’s stock valued at $761,000 after buying an additional 6,022 shares during the last quarter. ProShare Advisors LLC boosted its position in shares of Endocyte by 1.7% in the second quarter. ProShare Advisors LLC now owns 36,028 shares of the biopharmaceutical company’s stock valued at $116,000 after buying an additional 585 shares during the last quarter. Finally, BlackRock Fund Advisors boosted its position in shares of Endocyte by 3.5% in the second quarter. BlackRock Fund Advisors now owns 1,561,432 shares of the biopharmaceutical company’s stock valued at $5,012,000 after buying an additional 52,481 shares during the last quarter. 36.48% of the stock is currently owned by institutional investors.
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