Nightstar Therapeutics (NITE) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of Nightstar Therapeutics (NASDAQ:NITE) from a hold rating to a buy rating in a research note published on Wednesday morning. The brokerage currently has $15.00 target price on the stock.

According to Zacks, “Nightstar Therapeutics Limited is a clinical-stage gene therapy company. It focused on developing and commercializing novel one-time treatments for patients suffering from rare inherited retinal diseases including choroideremia, X-linked retinitis pigmentosa and Best vitelliform macular dystrophy. The company operates primarily in North America and Europe. Nightstar Therapeutics Limited is based in LONDON, United Kingdom. “

Several other research analysts have also issued reports on the stock. Cantor Fitzgerald began coverage on shares of Nightstar Therapeutics in a research note on Thursday, October 11th. They issued an overweight rating and a $36.00 target price on the stock. Wedbush reiterated an outperform rating and issued a $31.00 price target on shares of Nightstar Therapeutics in a research report on Tuesday, September 25th. Mizuho reiterated a buy rating and issued a $24.00 price target on shares of Nightstar Therapeutics in a research report on Tuesday, September 25th. BMO Capital Markets set a $41.00 price target on shares of Nightstar Therapeutics and gave the company a buy rating in a research report on Monday, September 24th. Finally, Leerink Swann increased their price target on shares of Nightstar Therapeutics from $30.00 to $35.00 and gave the company a positive rating in a research report on Monday, September 24th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $32.00.

NASDAQ:NITE traded up $0.41 during mid-day trading on Wednesday, reaching $12.46. 1,215 shares of the company were exchanged, compared to its average volume of 130,497. Nightstar Therapeutics has a 12 month low of $9.59 and a 12 month high of $29.55. The firm has a market cap of $344.51 million, a P/E ratio of -7.64 and a beta of 3.90.

Nightstar Therapeutics (NASDAQ:NITE) last issued its earnings results on Tuesday, November 13th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.13. As a group, analysts expect that Nightstar Therapeutics will post -1.45 EPS for the current year.

A number of hedge funds have recently made changes to their positions in NITE. Point72 Asset Management L.P. bought a new position in shares of Nightstar Therapeutics during the 3rd quarter worth approximately $31,201,000. Woodford Investment Management Ltd purchased a new stake in shares of Nightstar Therapeutics during the 2nd quarter valued at $5,024,000. Redmile Group LLC increased its position in shares of Nightstar Therapeutics by 16.5% during the 3rd 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 during the last quarter. Tekla Capital Management LLC purchased a new stake in shares of Nightstar Therapeutics during the 3rd quarter valued at $3,065,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of Nightstar Therapeutics during the 3rd quarter valued at $1,669,000. Hedge funds and other institutional investors own 37.84% 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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