Endocyte (NASDAQ:ECYT) was downgraded by BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Thursday.

A number of other equities research analysts have also weighed in on the stock. Jefferies Group assumed coverage on shares of Endocyte in a report on Friday, April 13th. They set a “buy” rating on the stock. ValuEngine raised shares of Endocyte from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Wells Fargo assumed coverage on shares of Endocyte in a report on Friday, March 9th. They set an “outperform” rating on the stock. Cowen raised shares of Endocyte from a “market perform” rating to an “outperform” rating in a report on Tuesday, February 27th. Finally, Zacks Investment Research lowered shares of Endocyte from a “hold” rating to a “sell” rating in a report on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $7.00.

ECYT opened at $9.40 on Thursday. Endocyte has a fifty-two week low of $1.17 and a fifty-two week high of $11.54. The company has a market cap of $643.48, a price-to-earnings ratio of -9.40 and a beta of 0.48.

Endocyte (NASDAQ:ECYT) last posted its earnings results on Monday, February 26th. The biopharmaceutical company reported ($0.18) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.02). Endocyte had a negative return on equity of 40.33% and a negative net margin of 78,662.86%. The business had revenue of $0.01 million for the quarter. During the same quarter last year, the firm earned ($0.26) earnings per share. Endocyte’s revenue was up .0% on a year-over-year basis. equities analysts predict that Endocyte will post -0.76 earnings per share for the current fiscal year.

In other news, VP Christopher P. Leamon sold 5,036 shares of the business’s stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $9.07, for a total value of $45,676.52. Following the transaction, the vice president now owns 143,470 shares in the company, valued at approximately $1,301,272.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 14.86% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of ECYT. AXA acquired a new position in shares of Endocyte in the 4th quarter worth approximately $101,000. Dimensional Fund Advisors LP lifted its position in shares of Endocyte by 34.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 98,313 shares of the biopharmaceutical company’s stock worth $147,000 after purchasing an additional 25,003 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Endocyte by 46.5% in the 4th quarter. Bank of New York Mellon Corp now owns 51,313 shares of the biopharmaceutical company’s stock worth $219,000 after purchasing an additional 16,283 shares during the period. EAM Investors LLC acquired a new position in shares of Endocyte in the 4th quarter worth approximately $420,000. Finally, Goldman Sachs Group Inc. lifted its position in shares of Endocyte by 1,443.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 173,759 shares of the biopharmaceutical company’s stock worth $744,000 after purchasing an additional 162,498 shares during the period. Hedge funds and other institutional investors own 29.14% of the company’s stock.

About Endocyte

Endocyte, Inc, a biopharmaceutical company, develops targeted therapies for the treatment of cancer and inflammatory diseases in the United States. The company uses its technology to create novel small molecule drug conjugates (SMDCs) and companion imaging agents. It is developing Vintafolide, a SMDC that is in Phase IIb clinical trial to treat non-small cell lung cancer; EC1456, which is in Phase I dose escalation trial for the treatment of advanced solid tumors; and EC1169, a tubulysin therapeutic that is in Phase I dose escalation trial to treat advanced metastatic castration-resistant prostate cancer.

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