Endocyte, Inc. to Post FY2022 Earnings of $1.09 Per Share, Jefferies Financial Group Forecasts (ECYT)
Endocyte, Inc. (NASDAQ:ECYT) – Analysts at Jefferies Financial Group upped their FY2022 EPS estimates for shares of Endocyte in a report released on Monday, September 10th. Jefferies Financial Group analyst M. Raycroft now expects that the biopharmaceutical company will earn $1.09 per share for the year, up from their previous estimate of $0.93. Jefferies Financial Group currently has a “Buy” rating and a $21.00 target price on the stock.
Other analysts also recently issued reports about the company. BidaskClub downgraded Endocyte from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 26th. Wedbush boosted their price target on Endocyte from $15.00 to $21.00 and gave the company an “outperform” rating in a research note on Monday, July 16th. Zacks Investment Research upgraded Endocyte from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research note on Tuesday, July 10th. Finally, Cowen restated a “buy” rating on shares of Endocyte in a research note on Monday. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $20.00.
Endocyte (NASDAQ:ECYT) last released its quarterly earnings results on Tuesday, July 31st. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.17). The business had revenue of $0.01 million during the quarter. Endocyte had a negative return on equity of 30.87% and a negative net margin of 69,330.66%.
In related news, VP Beth Taylor sold 7,892 shares of the business’s stock in a transaction on Tuesday, August 28th. The stock was sold at an average price of $20.00, for a total value of $157,840.00. Following the completion of the sale, the vice president now directly owns 63,363 shares in the company, valued at approximately $1,267,260. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 9,591 shares of company stock valued at $185,623 over the last 90 days. 10.65% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Partner Investment Management L.P. raised its holdings in Endocyte by 14.7% in the 2nd quarter. Partner Investment Management L.P. now owns 32,345 shares of the biopharmaceutical company’s stock valued at $446,000 after acquiring an additional 4,141 shares in the last quarter. Asymmetry Capital Management L.P. raised its holdings in Endocyte by 12.2% in the 1st quarter. Asymmetry Capital Management L.P. now owns 91,435 shares of the biopharmaceutical company’s stock valued at $831,000 after acquiring an additional 9,951 shares in the last quarter. Birchview Capital LP acquired a new position in Endocyte in the 2nd quarter valued at $138,000. Sigma Planning Corp acquired a new position in Endocyte in the 2nd quarter valued at $147,000. Finally, Legal & General Group Plc acquired a new position in Endocyte in the 2nd quarter valued at $149,000. Institutional investors and hedge funds own 75.61% of the company’s stock.
Endocyte Company Profile
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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