Endocyte (ECYT) Coverage Initiated at Jefferies Group

Jefferies Group started coverage on shares of Endocyte (NASDAQ:ECYT) in a research note issued on Friday, MarketBeat.com reports. The brokerage set a “buy” rating on the biopharmaceutical company’s stock.

A number of other analysts also recently issued reports on ECYT. ValuEngine downgraded Endocyte from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 21st. Zacks Investment Research downgraded Endocyte from a “hold” rating to a “sell” rating in a research report on Thursday, February 1st. Cowen raised Endocyte from a “market perform” rating to an “outperform” rating in a research report on Tuesday, February 27th. BidaskClub raised Endocyte from a “sell” rating to a “hold” rating in a research report on Saturday, March 3rd. Finally, Wells Fargo started coverage on Endocyte in a research report on Friday, March 9th. They set an “outperform” rating for the company. One equities research analyst has rated the stock with a sell rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $7.00.

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NASDAQ ECYT opened at $9.73 on Friday. Endocyte has a 52 week low of $1.17 and a 52 week high of $11.54. The firm has a market cap of $693.14, a PE ratio of -9.73 and a beta of 0.48.

Endocyte (NASDAQ:ECYT) last posted its quarterly earnings results on Monday, February 26th. The biopharmaceutical company reported ($0.18) EPS for the quarter, missing the 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 company had revenue of $0.01 million for the quarter. During the same quarter in the previous year, the company posted ($0.26) EPS. The firm’s revenue for the quarter was up .0% on a year-over-year basis. research analysts expect that Endocyte will post -0.76 earnings per share for the current year.

In related news, VP Christopher P. Leamon sold 5,036 shares of the firm’s stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $9.07, for a total transaction of $45,676.52. Following the completion of the sale, the vice president now directly owns 143,470 shares of the company’s stock, 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 company insiders.

Several large investors have recently modified their holdings of ECYT. AXA acquired a new stake in shares of Endocyte during the 4th quarter worth about $101,000. Dimensional Fund Advisors LP increased its position in shares of Endocyte by 34.1% during 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 last quarter. Bank of New York Mellon Corp increased its position in shares of Endocyte by 46.5% during 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 last quarter. EAM Investors LLC acquired a new stake in shares of Endocyte during the 4th quarter worth about $420,000. Finally, Goldman Sachs Group Inc. increased its position in shares of Endocyte by 1,443.0% during 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 last quarter. 29.14% of the stock is owned by hedge funds and other institutional investors.

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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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