Plus Therapeutics (NASDAQ:PSTV) Stock Price Expected to Rise, Ascendiant Capital Markets Analyst Says

Key Points

• Plus Therapeutics' target price was raised from $20.50 to $21.00 by Ascendiant Capital Markets, maintaining a "buy" rating for the stock.
• In recent trading, Plus Therapeutics stock has increased by 7.1%, opening at $0.73, with a current market capitalization of $72.58 million.
• Insider transactions saw Director Robert P. Lenk purchase 110,000 shares at an average price of $0.49, significantly increasing his stake in the company.

Plus Therapeutics (NASDAQ:PSTV - Get Free Report) had its target price lifted by investment analysts at Ascendiant Capital Markets from $20.50 to $21.00 in a research note issued on Monday,Benzinga reports. The firm currently has a "buy" rating on the stock.

A number of other analysts have also commented on PSTV. Wall Street Zen raised shares of Plus Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 16th. Maxim Group cut their price target on shares of Plus Therapeutics from $4.00 to $3.00 and set a "buy" rating on the stock in a research report on Monday, August 18th. D. Boral Capital restated a "buy" rating and issued a $5.00 price objective on shares of Plus Therapeutics in a report on Thursday, September 25th. HC Wainwright dropped their target price on Plus Therapeutics from $5.50 to $3.00 and set a "buy" rating on the stock in a report on Friday, June 27th. Finally, D Boral Capital upgraded Plus Therapeutics from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $8.00.

Plus Therapeutics Stock Up 7.1%

Plus Therapeutics stock opened at $0.73 on Monday. The company has a 50 day moving average of $0.54 and a 200-day moving average of $0.55. Plus Therapeutics has a twelve month low of $0.16 and a twelve month high of $2.31. The stock has a market capitalization of $72.58 million, a PE ratio of -0.33 and a beta of 0.81.

Plus Therapeutics (NASDAQ:PSTV - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.08. The firm had revenue of $1.39 million for the quarter, compared to analyst estimates of $1.08 million. Equities analysts anticipate that Plus Therapeutics will post -2.3 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Robert P. Lenk purchased 110,000 shares of Plus Therapeutics stock in a transaction dated Friday, August 22nd. The shares were bought at an average cost of $0.49 per share, for a total transaction of $53,900.00. Following the completion of the acquisition, the director owned 139,327 shares in the company, valued at approximately $68,270.23. This trade represents a 375.08% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.79% of the company's stock.

Hedge Funds Weigh In On Plus Therapeutics

An institutional investor recently bought a new position in Plus Therapeutics stock. Virtu Financial LLC acquired a new position in Plus Therapeutics, Inc. (NASDAQ:PSTV - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 40,030 shares of the company's stock, valued at approximately $38,000. Virtu Financial LLC owned about 0.24% of Plus Therapeutics as of its most recent SEC filing. Hedge funds and other institutional investors own 3.28% of the company's stock.

About Plus Therapeutics

Plus Therapeutics, Inc, a clinical-stage pharmaceutical company, focuses on the development, manufacture, and commercialization of treatments for patients with cancer. Its lead radiotherapeutic drug candidate is rhenium (186Re) obisbemeda, a patented radiotherapy that targets central nervous system cancers and other cancers, including recurrent glioblastoma, leptomeningeal metastases, and pediatric brain cancers.

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