IVERIC bio Inc (NASDAQ:ISEE) Receives $1.25 Average PT from Analysts

Shares of IVERIC bio Inc (NASDAQ:ISEE) have earned an average recommendation of “Hold” from the six analysts that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $1.25.

A number of analysts recently issued reports on the stock. BidaskClub lowered shares of IVERIC bio from a “buy” rating to a “hold” rating in a research report on Saturday, February 15th. Wedbush assumed coverage on shares of IVERIC bio in a research report on Monday, January 6th. They set an “outperform” rating on the stock. ValuEngine lowered shares of IVERIC bio from a “sell” rating to a “strong sell” rating in a research report on Tuesday, February 4th. Finally, Cowen assumed coverage on shares of IVERIC bio in a research report on Friday, January 24th. They set an “outperform” rating on the stock.

NASDAQ ISEE traded down $0.06 during mid-day trading on Friday, reaching $6.35. 409,600 shares of the stock were exchanged, compared to its average volume of 560,324. IVERIC bio has a 1-year low of $0.91 and a 1-year high of $8.97. The business’s fifty day simple moving average is $7.04 and its 200 day simple moving average is $3.78. The stock has a market capitalization of $266.02 million, a PE ratio of 3.92 and a beta of 2.18.

In other IVERIC bio news, Chairman David R. Guyer sold 3,367 shares of IVERIC bio stock in a transaction on Monday, January 6th. The shares were sold at an average price of $8.07, for a total value of $27,171.69. Following the transaction, the chairman now owns 57,339 shares in the company, valued at approximately $462,725.73. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Glenn Sblendorio purchased 62,500 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was bought at an average price of $5.64 per share, for a total transaction of $352,500.00. Following the acquisition, the chief executive officer now owns 176,854 shares in the company, valued at $997,456.56. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 17,465 shares of company stock worth $120,649. 4.30% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Lindbrook Capital LLC acquired a new position in shares of IVERIC bio during the 4th quarter valued at $26,000. Bank of New York Mellon Corp acquired a new position in shares of IVERIC bio during the 2nd quarter valued at $29,000. Northern Trust Corp acquired a new position in shares of IVERIC bio during the 2nd quarter valued at $114,000. Alpine Global Management LLC acquired a new position in shares of IVERIC bio during the 4th quarter valued at $151,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of IVERIC bio by 11,914.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 18,382 shares of the company’s stock valued at $158,000 after acquiring an additional 18,229 shares in the last quarter. Institutional investors own 34.90% of the company’s stock.

IVERIC bio Company Profile

IVERIC bio, Inc, a biopharmaceutical company, develops novel therapies to treat ophthalmic diseases with a focus on age-related and orphan retinal diseases. The company is developing Zimura, an inhibitor of complement factor C5, which is in Phase IIb clinical trials for the treatment of geographic atrophy (GA), a late-stage form of dry age-related macular degeneration (AMD) characterized by retinal cell death and degeneration of tissue in the central portion of the retina known as the macula; and autosomal recessive Stargardt disease (STGD1), which is an orphan inherited retinal disease (IRD).

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