Endocyte, Inc. (ECYT) Receives Average Rating of “Buy” from Brokerages

Shares of Endocyte, Inc. (NASDAQ:ECYT) have been assigned a consensus rating of “Buy” from the seven research firms that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $21.00.

Several research firms recently weighed in on ECYT. BidaskClub upgraded Endocyte from a “hold” rating to a “buy” rating in a research note on Tuesday, December 11th. Zacks Investment Research cut Endocyte from a “buy” rating to a “hold” rating in a research note on Wednesday, November 28th.

A number of hedge funds have recently bought and sold shares of the stock. Opera Trading Capital bought a new position in shares of Endocyte in the fourth quarter worth about $1,438,000. Vanguard Group Inc increased its stake in shares of Endocyte by 12.6% in the third quarter. Vanguard Group Inc now owns 3,524,390 shares of the biopharmaceutical company’s stock worth $62,593,000 after purchasing an additional 394,259 shares during the period. Vanguard Group Inc. increased its stake in shares of Endocyte by 12.6% in the third quarter. Vanguard Group Inc. now owns 3,524,390 shares of the biopharmaceutical company’s stock worth $62,593,000 after purchasing an additional 394,259 shares during the period. Morgan Stanley increased its stake in shares of Endocyte by 4.8% in the third quarter. Morgan Stanley now owns 327,093 shares of the biopharmaceutical company’s stock worth $5,809,000 after purchasing an additional 15,097 shares during the period. Finally, Teachers Advisors LLC increased its stake in shares of Endocyte by 301.8% in the third quarter. Teachers Advisors LLC now owns 499,762 shares of the biopharmaceutical company’s stock worth $8,876,000 after purchasing an additional 375,389 shares during the period. Hedge funds and other institutional investors own 75.62% of the company’s stock.

Shares of Endocyte stock opened at $23.99 on Friday. Endocyte has a one year low of $2.81 and a one year high of $24.00. The stock has a market cap of $1.97 billion, a PE ratio of -23.99 and a beta of -0.01.

About Endocyte

Endocyte, Inc, a biopharmaceutical company, develops targeted therapies for the treatment of cancer and inflammatory diseases in the United States. The company uses its technology to create novel small molecule drug conjugates (SMDCs) and companion imaging agents. It is developing Vintafolide, a SMDC that is in Phase IIb clinical trial to treat non-small cell lung cancer; EC1456, which is in Phase I dose escalation trial for the treatment of advanced solid tumors; and EC1169, a tubulysin therapeutic that is in Phase I dose escalation trial to treat advanced metastatic castration-resistant prostate cancer.

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