Endocyte (ECYT) Posts Earnings Results, Misses Expectations By $0.01 EPS
Endocyte (NASDAQ:ECYT) issued its earnings results on Wednesday. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.01), Fidelity Earnings reports. The company had revenue of $0.09 million for the quarter, compared to analysts’ expectations of $0.02 million. Endocyte had a negative net margin of 69,330.66% and a negative return on equity of 30.87%.
Shares of ECYT traded down $0.04 during trading hours on Thursday, reaching $23.62. 123,366 shares of the company traded hands, compared to its average volume of 5,422,190. The firm has a market capitalization of $1.68 billion, a P/E ratio of -23.62 and a beta of 0.02. Endocyte has a 12-month low of $2.81 and a 12-month high of $23.89.
In related news, insider Philip S. Low sold 5,928 shares of Endocyte stock in a transaction dated Friday, October 5th. The stock was sold at an average price of $15.56, for a total value of $92,239.68. Following the completion of the sale, the insider now directly owns 325,745 shares in the company, valued at $5,068,592.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Beth Taylor sold 7,892 shares of Endocyte stock in a transaction dated Tuesday, August 28th. The shares were sold at an average price of $20.00, for a total value of $157,840.00. Following the completion of the sale, the vice president now owns 63,363 shares of the company’s stock, valued at $1,267,260. The disclosure for this sale can be found here. Insiders have sold 66,940 shares of company stock valued at $1,077,041 over the last three months. Insiders own 14.86% of the company’s stock.
ECYT has been the subject of a number of recent analyst reports. Cowen reissued a “buy” rating on shares of Endocyte in a research note on Monday, September 10th. BidaskClub lowered shares of Endocyte from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 8th. Jefferies Financial Group reissued a “buy” rating and set a $21.00 target price on shares of Endocyte in a research note on Thursday, August 2nd. Wells Fargo & Co lowered shares of Endocyte from an “outperform” rating to a “market perform” rating in a research note on Friday, October 19th. Finally, Wedbush lowered shares of Endocyte from an “outperform” rating to a “neutral” rating in a research note on Thursday, October 18th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $20.00.
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Endocyte Company Profile
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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