Upstream Bio (NASDAQ:UPB) Earns Buy Rating from Analysts at Truist Financial

Key Points

• Truist Financial has initiated coverage of Upstream Bio with a "buy" rating and a price target of $47.00, suggesting a potential upside of 116.69% from the stock's previous close.
• Upstream Bio's shares have recently increased by 8.6% and have a consensus price target of $53.33, despite mixed analyst ratings including a "sell (d-)" from Weiss Ratings.
• The company reported a negative EPS of ($0.74), missing analyst estimates, but achieved revenue of $0.94 million, exceeding expectations.

Equities researchers at Truist Financial initiated coverage on shares of Upstream Bio (NASDAQ:UPB - Get Free Report) in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The brokerage set a "buy" rating and a $47.00 price target on the stock. Truist Financial's target price points to a potential upside of 116.69% from the stock's previous close.

Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Upstream Bio in a report on Wednesday, October 8th. One research 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.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $53.33.

Upstream Bio Trading Up 8.6%

Shares of NASDAQ:UPB opened at $21.69 on Tuesday. The company's fifty day moving average price is $17.95 and its 200 day moving average price is $12.80. Upstream Bio has a 12 month low of $5.14 and a 12 month high of $29.46.

Upstream Bio (NASDAQ:UPB - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($0.74) EPS for the quarter, missing analysts' consensus estimates of ($0.61) by ($0.13). Upstream Bio had a negative net margin of 3,836.58% and a negative return on equity of 35.90%. The business had revenue of $0.94 million during the quarter, compared to analysts' expectations of $0.32 million. On average, analysts anticipate that Upstream Bio will post -4.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Upstream Bio

Institutional investors have recently modified their holdings of the company. New York State Common Retirement Fund acquired a new position in shares of Upstream Bio in the first quarter valued at approximately $29,000. BNP Paribas Financial Markets raised its stake in Upstream Bio by 229.8% during the second quarter. BNP Paribas Financial Markets now owns 3,097 shares of the company's stock worth $34,000 after purchasing an additional 2,158 shares during the period. Legal & General Group Plc raised its stake in Upstream Bio by 83.0% during the second quarter. Legal & General Group Plc now owns 3,174 shares of the company's stock worth $35,000 after purchasing an additional 1,440 shares during the period. CWM LLC raised its stake in Upstream Bio by 107.5% during the second quarter. CWM LLC now owns 3,312 shares of the company's stock worth $36,000 after purchasing an additional 1,716 shares during the period. Finally, Ameritas Investment Partners Inc. raised its stake in Upstream Bio by 95.3% during the second quarter. Ameritas Investment Partners Inc. now owns 3,558 shares of the company's stock worth $39,000 after purchasing an additional 1,736 shares during the period.

About Upstream Bio

Upstream Bio, Inc, a clinical-stage biotechnology company, develops treatments for inflammatory diseases that focuses on severe respiratory disorders. It develops verekitug, a monoclonal antibody that targets and inhibits the thymic stromal lymphopoietin receptor. The company also develops therapies to treat severe asthma, chronic rhinosinusitis with nasal polyps, and chronic obstructive pulmonary disease.