Endocyte, Inc. (ECYT) Stock Rating Lowered by Zacks Investment Research
Endocyte, Inc. (NASDAQ:ECYT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Monday.
According to Zacks, “Endocyte reported wider than expected loss in second-quarter 2017. During the quarter, the company stopped enrollment in the phase Ib study evaluating EC1456 for lung cancer as well as stop enrollment of taxane-naive metastatic castration-resistant prostate cancer patients for EC1169. The company now plans to focus on its most promising programs like CAR T-cell small-molecule drug conjugates (SMDC) adaptor platform, and its pipeline candidate EC2629. However, with no approved product in its portfolio at the moment, Endocyte has to depend heavily on its partners for top-line growth. Moreover, shares of the company have underperformed the industry year to date.”
Other analysts also recently issued reports about the stock. Cowen and Company downgraded shares of Endocyte from an “outperform” rating to a “market perform” rating in a report on Friday, June 2nd. Wedbush downgraded shares of Endocyte from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $8.00 to $2.00 in a report on Monday, June 5th. Finally, ValuEngine downgraded shares of Endocyte from a “sell” rating to a “strong sell” rating in a report on Saturday, June 3rd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. Endocyte currently has an average rating of “Hold” and an average target price of $3.58.
Shares of Endocyte (NASDAQ:ECYT) traded down 0.74% on Monday, hitting $1.35. 150,111 shares of the stock traded hands. The firm’s market cap is $57.33 million. The stock has a 50-day moving average price of $1.45 and a 200 day moving average price of $2.04. Endocyte has a 52 week low of $1.32 and a 52 week high of $3.49.
Endocyte (NASDAQ:ECYT) last announced its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.28) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by $0.03. Endocyte had a negative net margin of 61,437.14% and a negative return on equity of 32.68%. The firm had revenue of $0.01 million during the quarter. During the same period last year, the firm posted ($0.25) earnings per share. Equities research analysts predict that Endocyte will post ($0.93) EPS for the current fiscal year.
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Several hedge funds have recently bought and sold shares of ECYT. Stifel Financial Corp increased its stake in Endocyte by 3.9% in the first quarter. Stifel Financial Corp now owns 45,353 shares of the biopharmaceutical company’s stock worth $112,000 after buying an additional 1,711 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Endocyte by 34.1% in the second quarter. Dimensional Fund Advisors LP now owns 98,313 shares of the biopharmaceutical company’s stock valued at $147,000 after buying an additional 25,003 shares in the last quarter. Stoneridge Investment Partners LLC increased its stake in Endocyte by 40.0% in the first quarter. Stoneridge Investment Partners LLC now owns 57,406 shares of the biopharmaceutical company’s stock valued at $148,000 after buying an additional 16,399 shares in the last quarter. Teachers Advisors LLC increased its stake in Endocyte by 17.1% in the fourth quarter. Teachers Advisors LLC now owns 65,119 shares of the biopharmaceutical company’s stock valued at $166,000 after buying an additional 9,506 shares in the last quarter. Finally, Spark Investment Management LLC acquired a new stake in Endocyte during the second quarter valued at $177,000. 32.67% of the stock is owned by institutional investors.
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