Shares of Nightstar Therapeutics PLC (NASDAQ:NITE) have been assigned an average rating of “Hold” from the twelve analysts that are currently covering the stock, MarketBeat reports. Eight investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $25.19.
Several equities analysts have issued reports on the company. Mizuho cut Nightstar Therapeutics from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $22.00 to $25.50 in a research report on Tuesday, March 5th. Cantor Fitzgerald downgraded Nightstar Therapeutics from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $42.00 to $25.50 in a research note on Monday, March 4th. Barclays started coverage on Nightstar Therapeutics in a report on Monday, December 17th. They set an “overweight” rating and a $28.00 price objective on the stock. BMO Capital Markets cut Nightstar Therapeutics from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $41.00 to $25.50 in a research report on Monday, March 4th. Finally, UBS Group initiated coverage on Nightstar Therapeutics in a report on Friday, January 4th. They issued a “buy” rating and a $21.00 target price for the company.
NITE traded up $0.01 during trading on Wednesday, hitting $25.31. The stock had a trading volume of 4,000 shares, compared to its average volume of 275,811. The stock has a market capitalization of $710.93 million, a P/E ratio of -15.53 and a beta of 3.35. Nightstar Therapeutics has a twelve month low of $9.59 and a twelve month high of $29.55.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Redmile Group LLC lifted its holdings in shares of Nightstar Therapeutics by 16.5% in the third quarter. Redmile Group LLC now owns 2,080,846 shares of the company’s stock valued at $42,512,000 after purchasing an additional 295,400 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in Nightstar Therapeutics in the 3rd quarter valued at approximately $31,201,000. Tekla Capital Management LLC purchased a new stake in Nightstar Therapeutics in the 3rd quarter valued at approximately $3,065,000. Renaissance Technologies LLC acquired a new stake in Nightstar Therapeutics during the 3rd quarter valued at $1,669,000. Finally, Citadel Advisors LLC acquired a new stake in Nightstar Therapeutics during the 3rd quarter valued at $1,368,000. Institutional investors own 39.15% of the company’s stock.
Nightstar Therapeutics Company Profile
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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