Gyre Therapeutics (NASDAQ:GYRE) Upgraded at Zacks Research

Zacks Research upgraded shares of Gyre Therapeutics (NASDAQ:GYRE) from a strong sell rating to a hold rating in a report released on Tuesday morning,Zacks reports.

A number of other analysts have also recently commented on GYRE. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Gyre Therapeutics in a research report on Friday, August 7th. Wall Street Zen raised Gyre Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, October 3rd. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $16.00.

Gyre Therapeutics Stock Down 4.0%

GYRE stock opened at $6.76 on Tuesday. The firm has a 50 day moving average of $6.84 and a 200 day moving average of $6.74. The stock has a market capitalization of $753.81 million, a PE ratio of -32.19 and a beta of 1.89. Gyre Therapeutics has a 52 week low of $5.44 and a 52 week high of $9.42.

Gyre Therapeutics (NASDAQ:GYRE) last posted its quarterly earnings data on Friday, August 7th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.06). Gyre Therapeutics had a negative return on equity of 6.57% and a negative net margin of 15.47%.The company had revenue of $29.11 million for the quarter, compared to analyst estimates of $26.49 million. On average, equities research analysts expect that Gyre Therapeutics will post -0.61 earnings per share for the current year.

Institutional Investors Weigh In On Gyre Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE purchased a new position in shares of Gyre Therapeutics during the 2nd quarter valued at about $83,000. BlackRock Inc. acquired a new position in shares of Gyre Therapeutics in the 2nd quarter valued at about $6,550,000. Deutsche Bank AG purchased a new stake in shares of Gyre Therapeutics in the second quarter worth about $118,000. Bank of New York Mellon Corp purchased a new stake in shares of Gyre Therapeutics in the second quarter worth about $414,000. Finally, Dimensional Fund Advisors LP grew its holdings in Gyre Therapeutics by 131.8% during the first quarter. Dimensional Fund Advisors LP now owns 25,268 shares of the company’s stock worth $176,000 after acquiring an additional 14,365 shares during the period. 23.99% of the stock is owned by hedge funds and other institutional investors.

Gyre Therapeutics Company Profile

Gyre Therapeutics, Inc is a biopharmaceutical company focused on developing therapies for fibrotic diseases, with an emphasis on liver fibrosis and other serious chronic conditions. The company’s research and development activities are centered on novel small-molecule treatments intended to address the underlying processes that cause excessive scar tissue formation.

Gyre’s lead investigational product is F351, also known as hydronidone, a potential treatment for liver fibrosis. The therapy has been studied in China for hepatitis B virus-associated liver fibrosis and is also being evaluated in the United States for liver fibrosis associated with nonalcoholic steatohepatitis.