Zacks Investment Research cut shares of Nightstar Therapeutics (NASDAQ:NITE) from a hold rating to a sell rating in a research report report published on Tuesday.

According to Zacks, “Nightstar Therapeutics Limited is a clinical-stage gene therapy company. It focused on developing and commercializing novel one-time treatments for patients suffering from rare inherited retinal diseases including choroideremia, X-linked retinitis pigmentosa and Best vitelliform macular dystrophy. The company operates primarily in North America and Europe. Nightstar Therapeutics Limited is based in LONDON, United Kingdom. “

A number of other equities analysts have also issued reports on NITE. UBS Group lowered Nightstar Therapeutics from an outperform rating to a market perform rating in a research note on Wednesday, June 27th. Cantor Fitzgerald assumed coverage on Nightstar Therapeutics in a research report on Thursday, October 11th. They set an overweight rating and a $36.00 price target on the stock. Mizuho reaffirmed a buy rating and set a $24.00 price target on shares of Nightstar Therapeutics in a research report on Tuesday, September 25th. Wedbush reaffirmed an outperform rating and set a $31.00 price target on shares of Nightstar Therapeutics in a research report on Tuesday, September 25th. Finally, Leerink Swann increased their price target on Nightstar Therapeutics from $30.00 to $35.00 and gave the stock a positive rating in a research report on Monday, September 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the stock. Nightstar Therapeutics presently has a consensus rating of Buy and an average price target of $33.25.

NITE stock traded up $0.36 during midday trading on Tuesday, reaching $14.00. The stock had a trading volume of 5,278 shares, compared to its average volume of 206,614. The firm has a market capitalization of $382.44 million and a price-to-earnings ratio of -8.59. Nightstar Therapeutics has a 52-week low of $10.01 and a 52-week high of $29.55.

Nightstar Therapeutics (NASDAQ:NITE) last issued its earnings results on Monday, August 13th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.41) by $0.12. Equities analysts predict that Nightstar Therapeutics will post -1.59 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corp DE acquired a new stake in Nightstar Therapeutics during the 2nd quarter worth about $132,000. Stanley Laman Group Ltd. acquired a new stake in Nightstar Therapeutics during the 2nd quarter worth about $195,000. Millennium Management LLC acquired a new stake in Nightstar Therapeutics during the 1st quarter worth about $507,000. Woodford Investment Management Ltd acquired a new stake in Nightstar Therapeutics during the 2nd quarter worth about $5,024,000. Finally, Partner Fund Management L.P. grew its position in Nightstar Therapeutics by 0.7% during the 2nd quarter. Partner Fund Management L.P. now owns 1,016,980 shares of the company’s stock worth $16,272,000 after purchasing an additional 7,007 shares during the period. 28.75% of the stock is currently owned by institutional investors.

Nightstar Therapeutics Company Profile

Nightstar Therapeutics plc, a clinical-stage gene therapy company, focuses on developing and commercializing novel one-time treatments for patients suffering from rare inherited retinal diseases in the United Kingdom. The company's lead product candidate is NSR-REP1, a candidate that is in phase 3 clinical development for the treatment of patients with choroideremia.

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