Beyondspring (BYSI) Upgraded to “Hold” by Zacks Investment Research

Beyondspring (NASDAQ:BYSI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.

According to Zacks, “BeyondSpring Inc. is a clinical stage biopharmaceutical company. It focused on the development of cancer therapies. The Company’s lead product consists of into a Phase 3 clinical trial as a direct anticancer agent in non-small cell lung cancer and a Phase 2/3 clinical trial in the prevention of chemotherapy-induced Neutropenia. BeyondSpring Inc. is based in New York, United States. “

A number of other research analysts also recently commented on the company. Maxim Group set a $52.00 target price on Beyondspring and gave the company a “buy” rating in a research report on Thursday, December 14th. HC Wainwright set a $60.00 price target on Beyondspring and gave the stock a “buy” rating in a research report on Friday, December 15th. Finally, Seaport Global Securities started coverage on Beyondspring in a research report on Tuesday, December 5th. They issued a “buy” rating and a $56.00 price target for the company. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Beyondspring has an average rating of “Buy” and a consensus target price of $54.50.

Beyondspring (NASDAQ BYSI) traded down $0.41 during midday trading on Tuesday, hitting $27.59. The stock had a trading volume of 1,207 shares, compared to its average volume of 4,020. Beyondspring has a 52-week low of $16.55 and a 52-week high of $48.49.

Beyondspring (NASDAQ:BYSI) last posted its earnings results on Thursday, November 9th. The company reported ($0.68) EPS for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.01. sell-side analysts predict that Beyondspring will post -4.41 earnings per share for the current fiscal year.

A hedge fund recently bought a new stake in Beyondspring stock. Tanaka Capital Management Inc. purchased a new position in Beyondspring Inc (NASDAQ:BYSI) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 21,322 shares of the company’s stock, valued at approximately $914,000. Beyondspring comprises approximately 2.1% of Tanaka Capital Management Inc.’s holdings, making the stock its 16th biggest position. Tanaka Capital Management Inc. owned about 0.10% of Beyondspring as of its most recent SEC filing. 1.22% of the stock is currently owned by hedge funds and other institutional investors.

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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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