Credit Suisse Reiterates a Buy Rating on EndocyteBy Ryan Adsit
“We continue to like ECYT for their novel platform and targeted approach, and remain OUTPERFORM-rated and maintain our $7 TP.”
According to TipRanks.com, MacKay is a top 100 analyst with an average return of 23.2% and a 72.9% success rate. MacKay covers the Healthcare sector, focusing on stocks such as Five Prime Therapeutics, Akebia Therapeutics, and Puma Biotechnology.
Endocyte has an analyst consensus of Moderate Buy, with a price target consensus of $7.
Based on Endocyte’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $32.5K and GAAP net loss of $8.71 million. In comparison, last year the company earned revenue of $32.5K and had a GAAP net loss of $10 million.
Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ECYT in relation to earlier this year. Most recently, in July 2016, Keith Brauer, a Director at ECYT bought 10,471 shares for a total of $20,000.
Endocyte, Inc. is a biopharmaceutical company, which develops targeted therapies for the treatment of cancer and inflammatory diseases. The company uses its proprietary technology to create novel small molecule drug conjugates and companion imaging diagnostics for personalized targeted therapies. Its small molecule drug conjugates are actively target receptors that are over-expressed on diseased cells. The company was founded by P. Ron Ellis and Philip S. Low on December 6, 1995 and is headquartered in West Lafayette, IN.