HC Wainwright reissued their buy rating on shares of Beyondspring (NASDAQ:BYSI) in a report released on Thursday morning. HC Wainwright currently has a $60.00 target price on the stock.
“Valuation and risks to price target achievement. We reiterate our Buy rating and $60 price target. Our valuation is based on our clinical net present value (NPV) model, which is currently driven by the company’s lead asset, Plinabulin. This model allows us to flex multiple assumptions affecting a drug’s potential commercial profile.”,” HC Wainwright’s analyst wrote.
Several other research firms have also recently weighed in on BYSI. Zacks Investment Research cut shares of Beyondspring from a buy rating to a hold rating in a report on Monday, August 27th. Maxim Group restated a buy rating and set a $35.00 price target (down from $48.00) on shares of Beyondspring in a report on Thursday, October 25th.
Shares of NASDAQ BYSI traded up $0.39 during mid-day trading on Thursday, reaching $24.50. 1,896 shares of the company’s stock traded hands, compared to its average volume of 10,302. The stock has a market capitalization of $529.26 million, a P/E ratio of -5.57 and a beta of 1.33. Beyondspring has a 1-year low of $16.15 and a 1-year high of $34.00.
Beyondspring (NASDAQ:BYSI) last issued its quarterly earnings data on Tuesday, October 23rd. The company reported ($0.54) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.62) by $0.08. On average, research analysts forecast that Beyondspring will post -2.25 EPS for the current year.
An institutional investor recently raised its position in Beyondspring stock. Tanaka Capital Management Inc. increased its position in shares of Beyondspring Inc (NASDAQ:BYSI) by 106.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 49,584 shares of the company’s stock after purchasing an additional 25,606 shares during the quarter. Beyondspring makes up about 2.9% of Tanaka Capital Management Inc.’s holdings, making the stock its 11th biggest position. Tanaka Capital Management Inc. owned approximately 0.22% of Beyondspring worth $1,240,000 at the end of the most recent reporting period. 1.37% of the stock is owned by hedge funds and other institutional investors.
Beyondspring Company Profile
BeyondSpring Inc, a clinical stage biopharmaceutical company, focuses on the development of cancer therapies. The company is advancing its lead asset, Plinabulin, into a Phase 2/3 clinical trial for the reduction of docetaxel chemotherapy-induced severe, grade 4 neutropenia; a Phase 2/3 clinical trial for the prevention of non-docetaxel chemotherapy-induced severe, grade 4 neutropenia; a Phase 3 clinical trial as an anticancer agent in combination with docetaxel in advanced non-small cell lung cancer; and Phase 1/2 clinical trials with the immuno-oncology agent nivolumab.
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