Evercore ISI Initiates Coverage on Upstream Bio (NASDAQ:UPB)

Stock analysts at Evercore ISI started coverage on shares of Upstream Bio (NASDAQ:UPB) in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage set an “outperform” rating and a $40.00 price target on the stock. Evercore ISI’s price objective points to a potential upside of 55.64% from the company’s current price.

Several other research firms have also recently commented on UPB. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Upstream Bio in a research report on Wednesday, October 8th. Truist Financial assumed coverage on shares of Upstream Bio in a research note on Tuesday, October 14th. They issued a “buy” rating and a $47.00 price target for the company. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $43.50.

Upstream Bio Price Performance

UPB opened at $25.70 on Tuesday. Upstream Bio has a one year low of $5.14 and a one year high of $26.90. The business has a 50 day simple moving average of $20.63 and a two-hundred day simple moving average of $15.48. The firm has a market capitalization of $1.39 billion and a price-to-earnings ratio of -13.67.

Upstream Bio (NASDAQ:UPB) last announced its earnings results on Wednesday, November 5th. The company reported ($0.63) EPS for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.15. Upstream Bio had a negative return on equity of 28.71% and a negative net margin of 4,366.77%.The company had revenue of $0.68 million during the quarter, compared to the consensus estimate of $0.65 million. As a group, sell-side analysts expect that Upstream Bio will post -4.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Woodline Partners LP lifted its position in Upstream Bio by 7.9% during the 3rd quarter. Woodline Partners LP now owns 602,252 shares of the company’s stock valued at $11,328,000 after acquiring an additional 44,000 shares during the period. Verition Fund Management LLC increased its stake in shares of Upstream Bio by 40.3% during the third quarter. Verition Fund Management LLC now owns 47,001 shares of the company’s stock valued at $884,000 after purchasing an additional 13,496 shares in the last quarter. Prelude Capital Management LLC bought a new position in shares of Upstream Bio during the third quarter valued at approximately $296,000. Parkman Healthcare Partners LLC lifted its holdings in shares of Upstream Bio by 17.9% during the third quarter. Parkman Healthcare Partners LLC now owns 843,502 shares of the company’s stock valued at $15,866,000 after purchasing an additional 127,998 shares during the last quarter. Finally, Millennium Management LLC bought a new stake in shares of Upstream Bio in the 3rd quarter worth approximately $755,000.

Upstream Bio Company Profile

Upstream Bio, Inc, a clinical-stage biotechnology company, develops treatments for inflammatory diseases that focuses on severe respiratory disorders. It develops verekitug, a monoclonal antibody that targets and inhibits the thymic stromal lymphopoietin receptor. The company also develops therapies to treat severe asthma, chronic rhinosinusitis with nasal polyps, and chronic obstructive pulmonary disease.