Research analysts at StockNews.com initiated coverage on shares of IVERIC bio (NASDAQ:ISEE – Get Free Report) in a report released on Friday. The brokerage set a “sell” rating on the stock.
Other equities research analysts also recently issued reports about the company. Robert W. Baird downgraded IVERIC bio from an “outperform” rating to a “neutral” rating in a research note on Thursday, May 4th. Credit Suisse Group downgraded IVERIC bio from an “outperform” rating to a “neutral” rating in a research note on Monday, May 1st. Wedbush downgraded IVERIC bio from an “outperform” rating to a “neutral” rating in a research note on Monday, May 1st. HC Wainwright downgraded IVERIC bio from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 2nd. Finally, Guggenheim downgraded IVERIC bio from a “buy” rating to a “neutral” rating in a research note on Monday, May 1st. One research analyst has rated the stock with a sell rating and ten have assigned a hold rating to the company’s stock. Based on data from MarketBeat, IVERIC bio currently has a consensus rating of “Hold” and an average price target of $28.22.
IVERIC bio Price Performance
NASDAQ ISEE opened at $39.95 on Friday. IVERIC bio has a one year low of $9.39 and a one year high of $39.99. The stock has a 50-day moving average of $38.42 and a 200 day moving average of $29.01. The company has a market capitalization of $5.50 billion, a price-to-earnings ratio of -22.70 and a beta of 1.06. The company has a debt-to-equity ratio of 0.20, a quick ratio of 15.53 and a current ratio of 15.53.
Insider Activity at IVERIC bio
In related news, CFO David Francis Carroll sold 1,829 shares of the business’s stock in a transaction that occurred on Friday, April 21st. The stock was sold at an average price of $30.00, for a total value of $54,870.00. Following the transaction, the chief financial officer now directly owns 68,472 shares of the company’s stock, valued at approximately $2,054,160. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, COO Keith Westby sold 1,218 shares of the business’s stock in a transaction that occurred on Friday, April 21st. The stock was sold at an average price of $30.00, for a total value of $36,540.00. Following the transaction, the chief operating officer now directly owns 39,652 shares of the company’s stock, valued at approximately $1,189,560. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO David Francis Carroll sold 1,829 shares of the business’s stock in a transaction that occurred on Friday, April 21st. The stock was sold at an average price of $30.00, for a total value of $54,870.00. Following the completion of the transaction, the chief financial officer now directly owns 68,472 shares in the company, valued at $2,054,160. The disclosure for this sale can be found here. In the last ninety days, insiders sold 193,500 shares of company stock worth $6,752,271. 2.70% of the stock is owned by company insiders.
Institutional Trading of IVERIC bio
Hedge funds have recently modified their holdings of the company. Braidwell LP purchased a new stake in IVERIC bio during the 4th quarter valued at $71,537,000. State Street Corp raised its holdings in IVERIC bio by 48.3% during the 2nd quarter. State Street Corp now owns 8,733,590 shares of the company’s stock valued at $84,017,000 after buying an additional 2,843,747 shares during the period. American Century Companies Inc. raised its holdings in IVERIC bio by 203.8% during the 1st quarter. American Century Companies Inc. now owns 4,044,918 shares of the company’s stock valued at $98,359,000 after buying an additional 2,713,544 shares during the period. Point72 Asset Management L.P. raised its holdings in IVERIC bio by 389.0% during the 4th quarter. Point72 Asset Management L.P. now owns 2,967,729 shares of the company’s stock valued at $63,539,000 after buying an additional 2,360,829 shares during the period. Finally, Pictet Asset Management SA raised its holdings in IVERIC bio by 16,488.8% during the 1st quarter. Pictet Asset Management SA now owns 2,316,300 shares of the company’s stock valued at $56,356,000 after buying an additional 2,302,337 shares during the period.
About IVERIC bio
IVERIC bio, Inc, a biopharmaceutical company, focuses on the discovery and development of novel treatments for retinal diseases with unmet medical needs. The company develops Zimura, an inhibitor of complement factor C5 comprising GATHER1, which has completed Phase 2/3 clinical trial; GATHER2 that is in Phase 3 clinical trial for the treatment of geographic atrophy (GA) secondary to dry age-related macular degeneration (AMD); and STAR or OPH2005 that is in Phase 2b clinical trial for the treatment of autosomal recessive Stargardt disease.
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