Dova Pharmaceuticals (NASDAQ:DOVA) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Dova Pharmaceuticals (NASDAQ:DOVA) from a hold rating to a sell rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Dova Pharmaceuticals, Inc. is a pharmaceutical company. It focuses on acquiring, developing and commercializing drug candidates for thrombocytopenia diseases. The company’s drug candidate includes avatrombopag, an orally administered thrombopoietin receptor agonist which are in clinical stage. Dova Pharmaceuticals, Inc. is based in Durham, North Carolina. “

Other equities research analysts have also issued research reports about the stock. HC Wainwright upped their target price on shares of Dova Pharmaceuticals from $18.00 to $39.00 and gave the stock a buy rating in a report on Thursday, June 27th. Evercore ISI upgraded shares of Dova Pharmaceuticals from an in-line rating to an outperform rating and set a $15.00 target price on the stock in a report on Monday, July 1st. BidaskClub upgraded shares of Zillow Group from a buy rating to a strong-buy rating in a report on Tuesday, July 2nd. Finally, Wedbush set a $190.00 target price on shares of Home Depot and gave the stock a hold rating in a report on Wednesday, May 22nd. Two analysts have rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. Dova Pharmaceuticals currently has an average rating of Buy and an average price target of $28.56.

DOVA opened at $16.99 on Wednesday. The company has a quick ratio of 4.27, a current ratio of 4.46 and a debt-to-equity ratio of 0.20. Dova Pharmaceuticals has a fifty-two week low of $5.62 and a fifty-two week high of $26.49. The firm has a market cap of $472.90 million, a price-to-earnings ratio of -6.53 and a beta of 2.56. The stock has a 50-day simple moving average of $11.35.

Dova Pharmaceuticals (NASDAQ:DOVA) last posted its earnings results on Tuesday, May 7th. The company reported ($0.58) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.68) by $0.10. Dova Pharmaceuticals had a negative net margin of 521.67% and a negative return on equity of 87.20%. The company had revenue of $4.00 million for the quarter, compared to analyst estimates of $3.46 million. Sell-side analysts predict that Dova Pharmaceuticals will post -2.1 earnings per share for the current fiscal year.

In other news, major shareholder Life Sciences Maste Perceptive acquired 427,209 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was purchased at an average price of $13.35 per share, for a total transaction of $5,703,240.15. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jason Hoitt sold 2,387 shares of the stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $13.81, for a total transaction of $32,964.47. The disclosure for this sale can be found here. In the last quarter, insiders acquired 582,854 shares of company stock valued at $8,243,825 and sold 18,838 shares valued at $284,611. Company insiders own 60.30% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Sanders Morris Harris LLC increased its holdings in Dova Pharmaceuticals by 85.1% during the second quarter. Sanders Morris Harris LLC now owns 521,887 shares of the company’s stock valued at $7,359,000 after buying an additional 239,972 shares during the last quarter. FMR LLC increased its holdings in Dova Pharmaceuticals by 0.8% during the first quarter. FMR LLC now owns 1,347,521 shares of the company’s stock valued at $11,979,000 after buying an additional 10,970 shares during the last quarter. DekaBank Deutsche Girozentrale increased its holdings in Dova Pharmaceuticals by 22.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 13,300 shares of the company’s stock valued at $336,000 after buying an additional 2,400 shares during the last quarter. Spark Investment Management LLC increased its holdings in Dova Pharmaceuticals by 31.8% during the first quarter. Spark Investment Management LLC now owns 80,500 shares of the company’s stock valued at $715,000 after buying an additional 19,400 shares during the last quarter. Finally, Birchview Capital LP increased its holdings in Dova Pharmaceuticals by 25.0% during the first quarter. Birchview Capital LP now owns 50,000 shares of the company’s stock valued at $445,000 after buying an additional 10,000 shares during the last quarter. Hedge funds and other institutional investors own 30.18% of the company’s stock.

About Dova Pharmaceuticals

Dova Pharmaceuticals, Inc, a pharmaceutical company, focuses on acquiring, developing, and commercializing drug candidates for thrombocytopenia disease. The company's lead product candidate is DOPTELET that is indicated for the treatment of thrombocytopenia in adult patients with chronic liver disease scheduled to undergo a procedure.

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