Nightstar Therapeutics (NITE) Upgraded by Zacks Investment Research to Hold

Zacks Investment Research upgraded shares of Nightstar Therapeutics (NASDAQ:NITE) from a sell rating to a hold rating in a research note published on Thursday morning.

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. “

NITE has been the topic of a number of other research reports. BMO Capital Markets set a $41.00 price objective on shares of Nightstar Therapeutics and gave the stock a buy rating in a report on Monday, September 24th. Wedbush restated an outperform rating and set a $31.00 target price on shares of Nightstar Therapeutics in a research report on Tuesday, September 25th. Mizuho restated a buy rating and set a $24.00 target price on shares of Nightstar Therapeutics in a research report on Tuesday, September 25th. Janney Montgomery Scott started coverage on shares of Nightstar Therapeutics in a research report on Wednesday, August 22nd. They set a buy rating and a $34.00 target price on the stock. Finally, Cantor Fitzgerald started coverage on shares of Nightstar Therapeutics in a research report on Thursday, October 11th. They set an overweight rating and a $36.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Nightstar Therapeutics presently has a consensus rating of Buy and an average target price of $34.43.

Shares of NASDAQ:NITE opened at $15.05 on Thursday. Nightstar Therapeutics has a 12 month low of $9.59 and a 12 month high of $29.55. The stock has a market cap of $422.90 million, a price-to-earnings ratio of -9.23 and a beta of 3.51.

Nightstar Therapeutics (NASDAQ:NITE) last issued its quarterly earnings data on Tuesday, November 13th. The company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.13. On average, equities analysts forecast that Nightstar Therapeutics will post -1.47 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE acquired a new position in Nightstar Therapeutics during the 2nd quarter valued at about $132,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Nightstar Therapeutics during the 3rd quarter valued at about $169,000. Janney Montgomery Scott LLC acquired a new position in Nightstar Therapeutics during the 3rd quarter valued at about $204,000. JPMorgan Chase & Co. acquired a new position in Nightstar Therapeutics during the 3rd quarter valued at about $214,000. Finally, Stanley Laman Group Ltd. acquired a new position in Nightstar Therapeutics during the 2nd quarter valued at about $195,000. Institutional investors own 25.49% of the company’s stock.

About Nightstar Therapeutics

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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