Zacks Investment Research upgraded shares of Endocyte, Inc. (NASDAQ:ECYT) from a sell rating to a hold rating in a research report report published on Thursday.
According to Zacks, “Endocyte posted narrower-than-expected loss in the third quarter of 2017. In October 2017, the company accelerated its path to commercialization as it acquired the rights to PSMA-617, being evaluated for the treatment of prostate cancer. The candidate represents a more than $1 billion market opportunity and its development is now the main priority of the company. Currently, the company plans to focus on its most promising programs – lutetium PSMA-617 radioligand therapy and prostate cancer, and CAR T-cell small-molecule drug conjugates (SMDC) adaptor platform. However, with no approved product in its portfolio at the moment, Endocyte has to depend heavily on its partners for top-line growth. So far this year, shares of the company have outperformed the industry.”
A number of other research analysts have also recently commented on ECYT. Cowen and Company restated a hold rating on shares of Endocyte in a research note on Monday, October 2nd. ValuEngine upgraded shares of Endocyte from a strong sell rating to a sell rating in a research note on Monday, October 2nd. Finally, Wedbush upgraded shares of Endocyte from a neutral rating to an outperform rating and lifted their target price for the company from $2.00 to $7.00 in a research note on Tuesday, October 3rd.
Endocyte (NASDAQ:ECYT) traded up $0.15 during mid-day trading on Thursday, reaching $5.33. The company had a trading volume of 1,108,400 shares, compared to its average volume of 1,236,905. Endocyte has a fifty-two week low of $1.17 and a fifty-two week high of $6.55.
Endocyte (NASDAQ:ECYT) last announced its quarterly earnings results on Monday, November 6th. The biopharmaceutical company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.20). The business had revenue of $0.03 million for the quarter. Endocyte had a negative return on equity of 38.91% and a negative net margin of 82,235.72%. The firm’s revenue for the quarter was up .0% on a year-over-year basis. During the same period last year, the company posted ($0.21) EPS. analysts anticipate that Endocyte will post -1.24 EPS for the current year.
Large investors have recently bought and sold shares of the company. Ameriprise Financial Inc. raised its stake in shares of Endocyte by 26.7% in the first quarter. Ameriprise Financial Inc. now owns 133,270 shares of the biopharmaceutical company’s stock valued at $343,000 after acquiring an additional 28,110 shares during the last quarter. FMR LLC raised its position in Endocyte by 0.7% in the 1st quarter. FMR LLC now owns 3,509,035 shares of the biopharmaceutical company’s stock worth $9,018,000 after purchasing an additional 24,625 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in Endocyte by 57.8% in the 1st quarter. Parametric Portfolio Associates LLC now owns 162,329 shares of the biopharmaceutical company’s stock worth $417,000 after purchasing an additional 59,454 shares during the last quarter. Bank of New York Mellon Corp raised its position in Endocyte by 4.7% in the 1st quarter. Bank of New York Mellon Corp now owns 143,552 shares of the biopharmaceutical company’s stock worth $369,000 after purchasing an additional 6,469 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Endocyte by 1,064.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 430,994 shares of the biopharmaceutical company’s stock worth $646,000 after purchasing an additional 393,975 shares during the last quarter. Institutional investors own 25.58% of the company’s stock.
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