Maxim Group reaffirmed their buy rating on shares of BeyondSpring Inc. (NASDAQ:BYSI) in a report issued on Friday morning. The firm currently has a $52.00 price target on the stock.

“BeyondSpring announced that the enrollment of the first patient in China for Plinabulin (P2/3 trial) in the Harbin Medical University Cancer Hospital in Harbin, China. This news follows other recent positives which include: ○ Positive Regulatory Reforms in China. The State Council of China announced on October 8, 2017 regulatory reforms, which could translate into an accelerated review (shorter time to the marketplace). Our current timeline assumes approvals and launch in China by 2020. This news is consistent with what we are hearing amongst our other covered companies in China such as BeiGene (BGNE – $80.01 – Buy). ○ Two China-based Grants. The first from the city government of Dalian, China. The second from the Dalian Economic Development Park. Conclusion: Plinabulin could become the standard of care for chemo patients as a prophylactic treatment for the CIN indication alone. The market opportunity extends beyond the $8B biologics market and could be upwards of $30B.”,” Maxim Group’s analyst wrote.

Other analysts have also issued reports about the company. Zacks Investment Research lowered BeyondSpring from a hold rating to a sell rating in a research report on Monday, July 3rd. Rodman & Renshaw boosted their target price on BeyondSpring from $43.00 to $50.00 and gave the company a buy rating in a research report on Friday, July 14th. Finally, HC Wainwright reaffirmed a buy rating and issued a $50.00 target price on shares of BeyondSpring in a research report on Monday, August 21st.

Shares of BeyondSpring (NASDAQ BYSI) traded down 0.77% during midday trading on Friday, hitting $36.00. The company’s stock had a trading volume of 2,720 shares. BeyondSpring has a 1-year low of $16.55 and a 1-year high of $48.49. The company has a 50-day moving average price of $37.07 and a 200 day moving average price of $35.48. The company’s market cap is $822.38 million.

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A hedge fund recently bought a new stake in BeyondSpring stock. Tanaka Capital Management Inc. bought a new stake in BeyondSpring Inc. (NASDAQ:BYSI) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 21,322 shares of the company’s stock, valued at approximately $914,000. BeyondSpring makes up approximately 2.1% of Tanaka Capital Management Inc.’s holdings, making the stock its 16th largest holding. Tanaka Capital Management Inc. owned approximately 0.10% of BeyondSpring at the end of the most recent quarter. 1.23% of the stock is currently owned by institutional investors.

About BeyondSpring

BeyondSpring Inc is a global clinical-stage biopharmaceutical company. The Company is focused on the development of cancer therapies. The Company is engaged in advancing its lead product, Plinabulin, into a Phase II/III clinical trial for the reduction of docetaxel chemotherapy-induced severe, grade 4 neutropenia; a Phase II/III clinical trial for the prevention of non-docetaxel chemotherapy-induced severe, grade 4 neutropenia, and a Phase III clinical trial as an anticancer agent in combination with docetaxel in advanced non-small cell lung cancer (NSCLC).

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