Aytu BioScience (NASDAQ:AYTU) Downgraded to “Hold” at Zacks Investment Research

Aytu BioScience (NASDAQ:AYTU) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday, Price Targets.com reports.

According to Zacks, “Aytu BioScience, Inc. is a healthcare company which focused on commercialization of novel products in the field of urology. The company’s marketed products consists of ProstaScint(R), Primsol(R) and MiOXSYS(TM) which addresses prostate cancer, urinary tract infections, male infertility and male sexual dysfunction. Aytu BioScience, Inc. is based in Englewood, Colorado. “

Shares of AYTU traded up $0.65 during midday trading on Tuesday, hitting $8.96. 1,896,859 shares of the company traded hands, compared to its average volume of 590,629. The stock has a 50-day moving average of $7.05 and a 200-day moving average of $2.93. Aytu BioScience has a one year low of $3.35 and a one year high of $29.90. The company has a current ratio of 3.04, a quick ratio of 2.51 and a debt-to-equity ratio of 0.12.

Aytu BioScience (NASDAQ:AYTU) last announced its quarterly earnings results on Tuesday, November 17th. The company reported ($0.04) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.02. Aytu BioScience had a negative return on equity of 25.20% and a negative net margin of 32.73%. The firm had revenue of $13.52 million for the quarter, compared to analysts’ expectations of $13.70 million. On average, equities analysts forecast that Aytu BioScience will post -1.17 EPS for the current fiscal year.

In related news, Director Armistice Capital, Llc purchased 1,333,334 shares of the firm’s stock in a transaction dated Friday, December 11th. The shares were purchased at an average cost of $6.00 per share, for a total transaction of $8,000,004.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 6.60% of the company’s stock.

Several hedge funds have recently bought and sold shares of AYTU. LPL Financial LLC bought a new position in shares of Aytu BioScience in the third quarter worth approximately $29,000. Beech Hill Advisors Inc. increased its position in shares of Aytu BioScience by 200.0% in the third quarter. Beech Hill Advisors Inc. now owns 30,000 shares of the company’s stock worth $36,000 after purchasing an additional 20,000 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Aytu BioScience by 66.3% in the third quarter. JPMorgan Chase & Co. now owns 34,976 shares of the company’s stock worth $42,000 after purchasing an additional 13,944 shares during the last quarter. Advisor Group Holdings Inc. increased its position in shares of Aytu BioScience by 145.1% in the second quarter. Advisor Group Holdings Inc. now owns 31,872 shares of the company’s stock worth $46,000 after purchasing an additional 18,868 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. bought a new position in shares of Aytu BioScience in the second quarter worth approximately $71,000. Institutional investors own 89.77% of the company’s stock.

About Aytu BioScience

Aytu BioScience, Inc, a specialty pharmaceutical company, focuses on developing and commercializing novel products in the field of hypogonadism (low testosterone), cough and upper respiratory symptoms, insomnia, and male infertility in the United States and internationally. The company markets Natesto, a nasal gel for the treatment of hypogonadism (low testosterone) in men; and Tuzistra XR, a prescription antitussive consisting of codeine polistirex and chlorpheniramine polistirex in an oral suspension.

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