Maxim Group reaffirmed their buy rating on shares of BeyondSpring Inc. (NASDAQ:BYSI) in a research note issued to investors on Friday morning. The brokerage currently has a $52.00 price objective on the stock.
“BeyondSpring announced that the enrollment of the first patient in China for Plinabulin (P2/3 trial) in the Harbin Medical University Cancer Hospital in Harbin, China. This news follows other recent positives which include: ○ Positive Regulatory Reforms in China. The State Council of China announced on October 8, 2017 regulatory reforms, which could translate into an accelerated review (shorter time to the marketplace). Our current timeline assumes approvals and launch in China by 2020. This news is consistent with what we are hearing amongst our other covered companies in China such as BeiGene (BGNE – $80.01 – Buy). ○ Two China-based Grants. The first from the city government of Dalian, China. The second from the Dalian Economic Development Park. Conclusion: Plinabulin could become the standard of care for chemo patients as a prophylactic treatment for the CIN indication alone. The market opportunity extends beyond the $8B biologics market and could be upwards of $30B.”,” Maxim Group’s analyst commented.
Several other research firms have also recently weighed in on BYSI. HC Wainwright set a $60.00 price objective on shares of BeyondSpring and gave the stock a buy rating in a research report on Thursday. Zacks Investment Research upgraded shares of BeyondSpring from a sell rating to a hold rating in a research report on Tuesday, August 1st. Finally, Rodman & Renshaw increased their price objective on shares of BeyondSpring from $43.00 to $50.00 and gave the stock a buy rating in a research report on Friday, July 14th.
Shares of BeyondSpring (NASDAQ BYSI) traded up 2.63% on Friday, hitting $36.28. The stock had a trading volume of 4,579 shares. The company’s market cap is $828.78 million. BeyondSpring has a one year low of $16.55 and a one year high of $48.49. The firm’s 50-day moving average is $37.07 and its 200-day moving average is $35.48.
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An institutional investor recently bought a new position in BeyondSpring stock. Tanaka Capital Management Inc. acquired a new stake in shares of BeyondSpring Inc. (NASDAQ:BYSI) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 21,322 shares of the company’s stock, valued at approximately $914,000. BeyondSpring comprises approximately 2.1% of Tanaka Capital Management Inc.’s holdings, making the stock its 16th biggest position. Tanaka Capital Management Inc. owned 0.10% of BeyondSpring at the end of the most recent reporting period. 1.23% of the stock is owned by hedge funds and other institutional investors.
BeyondSpring Company Profile
BeyondSpring Inc is a global clinical-stage biopharmaceutical company. The Company is focused on the development of cancer therapies. The Company is engaged in advancing its lead product, Plinabulin, into a Phase II/III clinical trial for the reduction of docetaxel chemotherapy-induced severe, grade 4 neutropenia; a Phase II/III clinical trial for the prevention of non-docetaxel chemotherapy-induced severe, grade 4 neutropenia, and a Phase III clinical trial as an anticancer agent in combination with docetaxel in advanced non-small cell lung cancer (NSCLC).
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