IVERIC bio, Inc. (NASDAQ:ISEE – Get Rating) – Analysts at B. Riley issued their Q2 2022 earnings per share estimates for IVERIC bio in a research note issued to investors on Wednesday, May 11th. B. Riley analyst Y. Zhi forecasts that the company will post earnings per share of ($0.34) for the quarter. B. Riley has a “Neutral” rating and a $12.00 price objective on the stock. B. Riley also issued estimates for IVERIC bio’s Q3 2022 earnings at ($0.42) EPS, Q4 2022 earnings at ($0.40) EPS, FY2022 earnings at ($1.46) EPS, FY2023 earnings at ($1.79) EPS and FY2024 earnings at ($0.78) EPS.
A number of other brokerages have also recently issued reports on ISEE. Morgan Stanley began coverage on shares of IVERIC bio in a report on Monday, February 7th. They issued an “overweight” rating and a $25.00 price objective for the company. Zacks Investment Research cut shares of IVERIC bio from a “buy” rating to a “hold” rating in a report on Wednesday, May 11th. Stifel Nicolaus upped their price target on shares of IVERIC bio from $22.00 to $28.00 in a report on Wednesday, May 4th. Jefferies Financial Group began coverage on shares of IVERIC bio in a report on Tuesday, March 22nd. They set a “buy” rating and a $27.00 price target for the company. Finally, Robert W. Baird began coverage on shares of IVERIC bio in a report on Thursday, March 3rd. They set an “outperform” rating and a $27.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $22.25.
IVERIC bio (NASDAQ:ISEE – Get Rating) last issued its quarterly earnings data on Wednesday, May 4th. The company reported ($0.29) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.29). During the same quarter in the prior year, the firm earned ($0.29) earnings per share.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its holdings in shares of IVERIC bio by 2.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 301,216 shares of the company’s stock worth $5,070,000 after buying an additional 6,286 shares in the last quarter. Prudential Financial Inc. acquired a new stake in shares of IVERIC bio during the first quarter worth approximately $3,104,000. Vanguard Group Inc. increased its holdings in shares of IVERIC bio by 1.8% during the first quarter. Vanguard Group Inc. now owns 5,778,729 shares of the company’s stock worth $97,255,000 after buying an additional 99,606 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in shares of IVERIC bio by 106.9% during the first quarter. Allianz Asset Management GmbH now owns 376,233 shares of the company’s stock worth $6,332,000 after buying an additional 194,432 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of IVERIC bio by 1.8% in the first quarter. Rhumbline Advisers now owns 145,740 shares of the company’s stock valued at $2,453,000 after purchasing an additional 2,567 shares in the last quarter.
In related news, CFO David Francis Carroll sold 2,144 shares of the stock in a transaction dated Friday, April 1st. The shares were sold at an average price of $17.00, for a total value of $36,448.00. Following the completion of the transaction, the chief financial officer now owns 40,166 shares of the company’s stock, valued at $682,822. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Keith Westby sold 10,000 shares of the stock in a transaction dated Monday, April 18th. The stock was sold at an average price of $16.63, for a total transaction of $166,300.00. Following the completion of the transaction, the chief operating officer now directly owns 99,128 shares of the company’s stock, valued at approximately $1,648,498.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 168,682 shares of company stock valued at $3,001,931. 2.70% of the stock is owned by corporate insiders.
About IVERIC bio (Get Rating)
IVERIC bio, Inc, a biopharmaceutical company, discovers and develops novel treatments for retinal diseases with a focus on age-related and orphan inherited retinal diseases (IRDs). The company develops Zimura, an inhibitor of complement factor C5 comprising GATHER1, which has completed Phase 2/3 clinical trial; and GATHER2 that is in Phase 3 clinical trial for the treatment of geographic atrophy (GA) secondary to dry age-related macular degeneration (AMD).
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