Shares of Oyster Point Pharma (NASDAQ:OYST) have earned a consensus recommendation of “Buy” from the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $42.80.
Several research analysts have recently commented on OYST shares. Zacks Investment Research upgraded Oyster Point Pharma from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research report on Saturday, August 8th. BidaskClub downgraded Oyster Point Pharma from a “sell” rating to a “strong sell” rating in a research note on Friday.
Several institutional investors and hedge funds have recently bought and sold shares of OYST. Signaturefd LLC bought a new stake in shares of Oyster Point Pharma in the 2nd quarter worth $29,000. Citigroup Inc. raised its position in shares of Oyster Point Pharma by 46.0% during the first quarter. Citigroup Inc. now owns 1,648 shares of the company’s stock worth $58,000 after purchasing an additional 519 shares during the period. First Mercantile Trust Co. acquired a new stake in shares of Oyster Point Pharma during the second quarter worth $81,000. UBS Group AG raised its position in shares of Oyster Point Pharma by 19.3% during the second quarter. UBS Group AG now owns 3,907 shares of the company’s stock worth $113,000 after purchasing an additional 633 shares during the period. Finally, Bank of America Corp DE raised its position in shares of Oyster Point Pharma by 91.3% during the second quarter. Bank of America Corp DE now owns 3,993 shares of the company’s stock worth $115,000 after purchasing an additional 1,906 shares during the period. 72.82% of the stock is currently owned by institutional investors.
Oyster Point Pharma stock opened at $19.08 on Friday. The stock’s 50-day moving average is $22.40 and its 200-day moving average is $27.66. The company has a market cap of $491.37 million and a price-to-earnings ratio of -1.74. Oyster Point Pharma has a 12 month low of $13.26 and a 12 month high of $41.37.
Oyster Point Pharma (NASDAQ:OYST) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.66) EPS for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.15. Analysts expect that Oyster Point Pharma will post -2.82 EPS for the current fiscal year.
Oyster Point Pharma Company Profile
Oyster Point Pharma, Inc, a clinical stage biopharmaceutical company, focuses on the discovery, development, and commercialization of pharmaceutical therapies to treat ocular surface diseases in the United States. It is involved in developing OC-01, a nicotinic acetylcholine receptor agonist that is in Phase IIb clinical trial to treat the signs and symptoms of dry eye disease, as well as Phase III clinical trial for the neurotrophic keratitis.
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