Endocyte, Inc. (ECYT) Receives Average Recommendation of “Buy” from Brokerages

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Shares of Endocyte, Inc. (NASDAQ:ECYT) have been given an average recommendation of “Buy” by the seven research firms that are presently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $19.50.

ECYT has been the topic of a number of recent research reports. BidaskClub lowered shares of Endocyte from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 8th. Cowen restated a “buy” rating on shares of Endocyte in a report on Monday, September 10th. Zacks Investment Research upgraded shares of Endocyte from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a report on Tuesday, July 10th. Jefferies Financial Group restated a “buy” rating and issued a $21.00 target price on shares of Endocyte in a report on Thursday, August 2nd. Finally, Wedbush upped their target price on shares of Endocyte from $15.00 to $21.00 and gave the company an “outperform” rating in a report on Monday, July 16th.

NASDAQ:ECYT opened at $23.48 on Friday. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of -23.48 and a beta of 0.30. Endocyte has a 12-month low of $2.81 and a 12-month high of $23.54.

Endocyte (NASDAQ:ECYT) last released its earnings results on Tuesday, July 31st. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.17). The company had revenue of $0.01 million for the quarter. Endocyte had a negative net margin of 69,330.66% and a negative return on equity of 30.87%. As a group, equities research analysts predict that Endocyte will post -0.66 earnings per share for the current year.

In other Endocyte news, VP Beth Taylor sold 7,892 shares of the company’s stock in a transaction dated Tuesday, August 28th. The shares were sold at an average price of $20.00, for a total value of $157,840.00. Following the transaction, the vice president now directly owns 63,363 shares in the company, valued at approximately $1,267,260. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Katherine Parker sold 6,771 shares of the company’s stock in a transaction dated Friday, October 5th. The shares were sold at an average price of $15.55, for a total transaction of $105,289.05. Following the completion of the transaction, the vice president now owns 70,349 shares in the company, valued at $1,093,926.95. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 68,354 shares of company stock worth $1,099,637. 14.86% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN lifted its stake in shares of Endocyte by 2,272.7% during the 1st quarter. Wells Fargo & Company MN now owns 33,218 shares of the biopharmaceutical company’s stock valued at $303,000 after buying an additional 31,818 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Endocyte by 60.3% during the 1st quarter. Northern Trust Corp now owns 129,626 shares of the biopharmaceutical company’s stock valued at $1,178,000 after buying an additional 48,770 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Endocyte by 50.2% during the 1st quarter. BlackRock Inc. now owns 1,710,716 shares of the biopharmaceutical company’s stock valued at $15,551,000 after buying an additional 571,925 shares in the last quarter. Baird Financial Group Inc. purchased a new stake in Endocyte in the 1st quarter worth $818,000. Finally, Bayesian Capital Management LP purchased a new stake in Endocyte in the 1st quarter worth $157,000. Institutional investors and hedge funds own 75.30% of the company’s stock.

About Endocyte

Endocyte, Inc, a biopharmaceutical company, develops targeted therapies for the treatment of cancer and inflammatory diseases in the United States. The company uses its technology to create novel small molecule drug conjugates (SMDCs) and companion imaging agents. It is developing Vintafolide, a SMDC that is in Phase IIb clinical trial to treat non-small cell lung cancer; EC1456, which is in Phase I dose escalation trial for the treatment of advanced solid tumors; and EC1169, a tubulysin therapeutic that is in Phase I dose escalation trial to treat advanced metastatic castration-resistant prostate cancer.

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