BeyondSpring (NASDAQ:BYSI) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a research note issued on Wednesday, Zacks.com reports.
According to Zacks, "BeyondSpring Inc. is a clinical stage biopharmaceutical company. It focused on the development of cancer therapies. The Company's lead product consists of into a Phase 3 clinical trial as a direct anticancer agent in non-small cell lung cancer and a Phase 2/3 clinical trial in the prevention of chemotherapy-induced Neutropenia. BeyondSpring Inc. is based in New York, United States. "
Other equities analysts also recently issued reports about the company. BidaskClub upgraded BeyondSpring from a "sell" rating to a "hold" rating in a research note on Thursday, December 17th. ValuEngine upgraded BeyondSpring from a "hold" rating to a "buy" rating in a research note on Friday, November 20th. Bank of America began coverage on BeyondSpring in a report on Monday. They set a "buy" rating and a $25.00 price target on the stock. HC Wainwright cut their price target on BeyondSpring from $46.00 to $43.00 and set a "buy" rating on the stock in a report on Tuesday, November 24th. Finally, Evercore ISI began coverage on BeyondSpring in a report on Monday, December 28th. They set an "outperform" rating and a $30.00 price target on the stock. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has an average rating of "Buy" and an average target price of $27.40.
BYSI stock traded down $0.09 during midday trading on Wednesday, reaching $12.95. The company had a trading volume of 423,599 shares, compared to its average volume of 331,175. The company has a quick ratio of 2.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.09. The stock has a 50 day moving average price of $11.46 and a 200 day moving average price of $13.08. BeyondSpring has a fifty-two week low of $9.38 and a fifty-two week high of $21.50. The firm has a market capitalization of $395.18 million, a PE ratio of -6.35 and a beta of 0.60.
BeyondSpring (NASDAQ:BYSI) last issued its earnings results on Monday, November 16th. The company reported ($0.48) EPS for the quarter, beating the Zacks' consensus estimate of ($0.54) by $0.06. Research analysts predict that BeyondSpring will post -1.99 EPS for the current year.
Hedge funds have recently modified their holdings of the company. California Public Employees Retirement System acquired a new position in BeyondSpring during the second quarter valued at $413,000. Bank of New York Mellon Corp boosted its position in BeyondSpring by 7.5% during the second quarter. Bank of New York Mellon Corp now owns 31,354 shares of the company's stock valued at $473,000 after purchasing an additional 2,201 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in BeyondSpring by 7.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 29,211 shares of the company's stock valued at $441,000 after purchasing an additional 1,906 shares during the last quarter. Nuveen Asset Management LLC acquired a new stake in BeyondSpring during the second quarter valued at $503,000. Finally, BNP Paribas Arbitrage SA boosted its position in BeyondSpring by 506.9% during the third quarter. BNP Paribas Arbitrage SA now owns 3,344 shares of the company's stock valued at $45,000 after purchasing an additional 2,793 shares during the last quarter. Institutional investors and hedge funds own 7.10% of the company's stock.
BeyondSpring Inc, a clinical stage biopharmaceutical company, together with its subsidiaries, focuses on the development and commercialization of immuno-oncology cancer therapies. The company's lead asset is the Plinabulin that is in late stage clinical trials as an anti-cancer agent in combination with docetaxel in advanced non-small cell lung cancer (NSCLC) for the prevention of high and intermediate risk chemotherapy-induced neutropenia.
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