UBS Group Initiates Coverage on IVERIC bio (NASDAQ:ISEE)

UBS Group assumed coverage on shares of IVERIC bio (NASDAQ:ISEEGet Rating) in a research report released on Tuesday, MarketBeat.com reports. The brokerage issued a buy rating and a $20.00 price target on the stock.

Several other research firms also recently weighed in on ISEE. Morgan Stanley raised their price objective on IVERIC bio from $25.00 to $30.00 and gave the company an overweight rating in a research note on Thursday, July 7th. Stifel Nicolaus raised their price objective on IVERIC bio from $22.00 to $28.00 in a research note on Wednesday, May 4th. B. Riley assumed coverage on IVERIC bio in a research note on Thursday, May 12th. They issued a neutral rating and a $12.00 price objective for the company. Credit Suisse Group raised their price objective on IVERIC bio to $24.00 in a research note on Friday, May 20th. Finally, Bank of America assumed coverage on IVERIC bio in a research note on Wednesday, June 8th. They issued a buy rating and a $18.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $24.20.

IVERIC bio Price Performance

ISEE opened at $12.81 on Tuesday. The business has a 50 day simple moving average of $10.64 and a 200-day simple moving average of $13.18. The stock has a market capitalization of $1.51 billion, a P/E ratio of -10.50 and a beta of 1.51. IVERIC bio has a 12 month low of $8.37 and a 12 month high of $19.34.

IVERIC bio (NASDAQ:ISEEGet Rating) last posted its quarterly earnings results on Tuesday, July 26th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.10). During the same quarter last year, the business earned ($0.32) earnings per share. Research analysts anticipate that IVERIC bio will post -1.49 EPS for the current year.

Insider Activity

In other news, EVP Anthony S. Gibney sold 7,791 shares of IVERIC bio stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $9.41, for a total value of $73,313.31. Following the completion of the sale, the executive vice president now owns 10,959 shares of the company’s stock, valued at $103,124.19. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, SVP Christopher Paul Simms sold 12,272 shares of IVERIC bio stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $11.25, for a total value of $138,060.00. Following the transaction, the senior vice president now owns 28,547 shares in the company, valued at $321,153.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Anthony S. Gibney sold 7,791 shares of IVERIC bio stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $9.41, for a total value of $73,313.31. Following the completion of the transaction, the executive vice president now owns 10,959 shares in the company, valued at approximately $103,124.19. The disclosure for this sale can be found here. Company insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Captrust Financial Advisors boosted its holdings in IVERIC bio by 14,900.0% in the first quarter. Captrust Financial Advisors now owns 1,500 shares of the company’s stock valued at $25,000 after acquiring an additional 1,490 shares during the last quarter. Nisa Investment Advisors LLC acquired a new position in shares of IVERIC bio during the fourth quarter worth about $33,000. Point72 Hong Kong Ltd acquired a new position in shares of IVERIC bio during the fourth quarter worth about $40,000. Adviser Investments LLC acquired a new position in shares of IVERIC bio during the second quarter worth about $103,000. Finally, Parametrica Management Ltd acquired a new position in shares of IVERIC bio during the second quarter worth about $104,000.

About IVERIC bio

(Get Rating)

IVERIC bio, Inc, a biopharmaceutical company, discovers and develops novel treatments for retinal diseases with a focus on age-related and orphan inherited retinal diseases (IRDs). The company develops Zimura, an inhibitor of complement factor C5 comprising GATHER1, which has completed Phase 2/3 clinical trial; and GATHER2 that is in Phase 3 clinical trial for the treatment of geographic atrophy (GA) secondary to dry age-related macular degeneration (AMD).

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Analyst Recommendations for IVERIC bio (NASDAQ:ISEE)

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