Nexvet Biopharma plc (NVET) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research lowered shares of Nexvet Biopharma plc (NASDAQ:NVET) from a hold rating to a sell rating in a research note issued to investors on Thursday morning.

According to Zacks, “NexvetBiopharma plc is a biopharmaceutical company. The company is focused on transforming the therapeutic market for companion animals by developing and commercializing novel biologic therapies. Its product candidate consists of NV-01, is a mAb for the control of pain associated with osteoarthritis in dogs, NV-02, is a mAb for the control of pain associated with degenerative joint disease in cats and NV-08, is a receptor fusion protein for the treatment of chronic inflammatory diseases. NexvetBiopharma plc is headquartered in Blackrock, Ireland. “

Shares of Nexvet Biopharma plc (NASDAQ:NVET) traded down 0.30% during trading on Thursday, reaching $6.60. 128,600 shares of the company’s stock were exchanged. The company has a 50 day moving average of $4.22 and a 200 day moving average of $3.93. Nexvet Biopharma plc has a 12-month low of $2.61 and a 12-month high of $6.76. The stock’s market cap is $77.56 million.

Nexvet Biopharma plc (NASDAQ:NVET) last posted its quarterly earnings results on Friday, February 10th. The biopharmaceutical company reported ($0.46) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.37) by $0.09. Equities research analysts anticipate that Nexvet Biopharma plc will post ($1.80) EPS for the current year.

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A number of large investors have recently modified their holdings of NVET. Broadfin Capital LLC increased its stake in Nexvet Biopharma plc by 10.8% in the fourth quarter. Broadfin Capital LLC now owns 1,127,200 shares of the biopharmaceutical company’s stock worth $4,205,000 after buying an additional 109,945 shares during the last quarter. Latimer Light Capital L.P. increased its stake in Nexvet Biopharma plc by 181.4% in the third quarter. Latimer Light Capital L.P. now owns 104,948 shares of the biopharmaceutical company’s stock worth $436,000 after buying an additional 67,647 shares during the last quarter. Finally, Norges Bank purchased a new stake in Nexvet Biopharma plc during the fourth quarter worth $130,000. 48.68% of the stock is currently owned by hedge funds and other institutional investors.

About Nexvet Biopharma plc

Nexvet Biopharma public limited company is a clinical-stage biopharmaceutical company focused on transforming the therapeutic market for companion animals by developing and commercializing species-specific biologics. The Company’s platform technology, which it refers to as PETization, is an algorithmic approach that enables the Company to create monoclonal antibodies (mAbs) a type of biologic, that are designed to be recognized as self or native by an animal’s immune system, a property referred to as 100% species-specificity.

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