Endocyte (NASDAQ:ECYT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Friday.

According to Zacks, “In October 2017, Endocyte accelerated its path to commercialization as it acquired the rights to PSMA-617, being evaluated for the treatment of prostate cancer. The candidate represents a more than $1 billion market opportunity and its development is now the main priority of the company. Currently, the company plans to focus on its most promising programs – lutetium PSMA-617 radioligand therapy and prostate cancer, and CAR T-cell small-molecule drug conjugates (SMDC) adaptor platform. In the last one year, shares of the company have outperformed the industry. However, Endocyte has very few candidates in its pipeline with all of them in the early or mid-stages of development. With no approved product in its portfolio at the moment, Endocyte has to depend heavily on its partners for top-line growth. Endocyte’s products will face intense competition in the market from both large pharma companies and small and mid-sized companies.”

Separately, ValuEngine cut shares of Endocyte from a “sell” rating to a “strong sell” rating in a research note on Thursday, December 21st.

Shares of Endocyte (NASDAQ:ECYT) opened at $3.01 on Friday. The company has a market cap of $145.56, a price-to-earnings ratio of -2.21 and a beta of 1.87. Endocyte has a 12 month low of $1.17 and a 12 month high of $6.55.

Endocyte (NASDAQ:ECYT) last announced its quarterly earnings results on Monday, November 6th. The biopharmaceutical company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.20). The firm had revenue of $0.03 million during the quarter. Endocyte had a negative net margin of 82,235.72% and a negative return on equity of 38.91%. Endocyte’s revenue was up .0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.21) EPS. equities research analysts expect that Endocyte will post -1.24 earnings per share for the current fiscal year.

In other news, insider Philip S. Low purchased 5,600 shares of the business’s stock in a transaction on Monday, November 13th. The stock was purchased at an average price of $4.84 per share, for a total transaction of $27,104.00. Following the completion of the purchase, the insider now directly owns 283,005 shares in the company, valued at approximately $1,369,744.20. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Christopher P. Leamon sold 23,231 shares of the stock in a transaction on Friday, December 1st. The shares were sold at an average price of $5.04, for a total transaction of $117,084.24. Following the completion of the sale, the vice president now owns 150,579 shares of the company’s stock, valued at approximately $758,918.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 124,253 shares of company stock valued at $562,591. Corporate insiders own 14.86% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. FMR LLC lifted its stake in shares of Endocyte by 0.9% during the 2nd quarter. FMR LLC now owns 3,540,203 shares of the biopharmaceutical company’s stock worth $5,310,000 after buying an additional 31,168 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake 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 buying an additional 25,003 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Endocyte by 1,064.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 430,994 shares of the biopharmaceutical company’s stock worth $646,000 after buying an additional 393,975 shares during the last quarter. Hedge funds and other institutional investors own 17.47% of the company’s stock.

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Endocyte Company Profile

Endocyte Inc (Endocyte) is a biopharmaceutical company. The Company is engaged in developing therapies for the treatment of cancer and inflammatory diseases. The Company uses its technology to create small molecule drug conjugates (SMDCs) and companion imaging diagnostics. The Company’s pipeline includes Folate-Tubulysin (EC1456), the Company’s second generation SMDC, also targets the folate receptor; PSMA Tubulysin (EC1169), the Company’s non-folate SMDC, which is a tubulysin therapeutic targeting PSMA; Vintafolide (Folate DAVLBH), SMDC, vintafolide, targets the folate receptor with the anti-cancer drug payload DAVLBH; Folate-DNA alkylator (EC1788), which is a folate receptor-targeted SMDC with a potent DNA alkylator drug; Folate-Aminopterin (EC1669) is a folate receptor-targeted SMDC for the treatment in inflammatory diseases, and Folate-mTor inhibitor (EC0371), which is a folate receptor-targeted SMDC for the treatment of polycystic kidney disease(PKD).

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