Nightstar Therapeutics (NASDAQ:NITE) received a $41.00 target price from research analysts at BMO Capital Markets in a research note issued to investors on Monday. The brokerage currently has a “buy” rating on the stock. BMO Capital Markets’ target price indicates a potential upside of 60.78% from the stock’s previous close.
A number of other research firms also recently issued reports on NITE. Leerink Swann reiterated a “positive” rating and set a $35.00 price objective (up from $30.00) on shares of Nightstar Therapeutics in a report on Monday. Mizuho increased their price objective on Nightstar Therapeutics to $24.00 and gave the stock a “buy” rating in a report on Tuesday, September 4th. Janney Montgomery Scott assumed coverage on Nightstar Therapeutics in a report on Wednesday, August 22nd. They set a “buy” rating and a $34.00 price objective for the company. Zacks Investment Research upgraded Nightstar Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, August 9th. Finally, UBS Group downgraded Nightstar Therapeutics from an “outperform” rating to a “market perform” rating in a report on Wednesday, June 27th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $32.86.
NASDAQ:NITE opened at $25.50 on Monday. The stock has a market cap of $716.55 million and a P/E ratio of -15.64. Nightstar Therapeutics has a 52-week low of $10.01 and a 52-week high of $29.55.
A number of hedge funds have recently bought and sold shares of NITE. Bank of America Corp DE bought a new position in Nightstar Therapeutics in the second quarter valued at approximately $132,000. Stanley Laman Group Ltd. bought a new position in Nightstar Therapeutics in the second quarter valued at approximately $195,000. Millennium Management LLC bought a new position in Nightstar Therapeutics in the first quarter valued at approximately $507,000. Woodford Investment Management Ltd bought a new position in Nightstar Therapeutics in the second quarter valued at approximately $5,024,000. Finally, Partner Fund Management L.P. grew its stake in Nightstar Therapeutics by 0.7% in the second quarter. Partner Fund Management L.P. now owns 1,016,980 shares of the company’s stock valued at $16,272,000 after purchasing an additional 7,007 shares in the last quarter. Hedge funds and other institutional investors own 28.62% of the company’s stock.
Nightstar Therapeutics Company Profile
Nightstar Therapeutics PLC is a clinical-stage gene therapy company, which engages in the development and commercialization of novel one-time treatments for patients suffering from rare inherited retinal diseases. Its pipeline includes NSR-REP1, for the treatment of choroideremia; NSR-RPGR, for the treatment of X-linked retinitis pigmentosa; and NSR-BEST1, for the treatment of vitelliform macular dystrophy.
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