POINT Biopharma Global (NASDAQ:PNT) Shares Gap Up to $7.12

Shares of POINT Biopharma Global Inc. (NASDAQ:PNTGet Rating) gapped up prior to trading on Thursday . The stock had previously closed at $7.12, but opened at $7.29. POINT Biopharma Global shares last traded at $7.30, with a volume of 6,962 shares traded.

PNT has been the topic of a number of recent research reports. Piper Sandler dropped their price objective on POINT Biopharma Global from $17.00 to $14.00 and set a “na” rating on the stock in a report on Friday, May 13th. Jefferies Financial Group upgraded POINT Biopharma Global from a “hold” rating to a “buy” rating and raised their target price for the company from $7.00 to $20.00 in a research note on Thursday, May 26th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, POINT Biopharma Global has a consensus rating of “Buy” and a consensus price target of $29.00.

The firm has a market cap of $682.24 million, a PE ratio of -10.47 and a beta of -0.38. The firm’s 50 day moving average is $7.75 and its 200-day moving average is $6.85.

POINT Biopharma Global (NASDAQ:PNTGet Rating) last released its earnings results on Friday, May 13th. The company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.03. As a group, research analysts forecast that POINT Biopharma Global Inc. will post -0.98 earnings per share for the current year.

In other POINT Biopharma Global news, insider Neil E. Fleshner sold 564,204 shares of the company’s stock in a transaction that occurred on Wednesday, May 25th. The shares were sold at an average price of $7.51, for a total value of $4,237,172.04. Following the transaction, the insider now owns 3,023,045 shares in the company, valued at approximately $22,703,067.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Several large investors have recently modified their holdings of PNT. Penserra Capital Management LLC bought a new stake in shares of POINT Biopharma Global in the fourth quarter worth $25,000. Morgan Stanley bought a new stake in POINT Biopharma Global during the third quarter worth about $27,000. Marshall Wace LLP bought a new stake in POINT Biopharma Global during the fourth quarter worth about $27,000. Cubist Systematic Strategies LLC bought a new position in shares of POINT Biopharma Global in the third quarter worth about $28,000. Finally, Legal & General Group Plc acquired a new position in shares of POINT Biopharma Global in the fourth quarter valued at approximately $38,000. Institutional investors own 41.76% of the company’s stock.

About POINT Biopharma Global (NASDAQ:PNT)

POINT Biopharma Global Inc, a radiopharmaceutical company, focuses on the development and commercialization of radioligands that fight cancer. Its lead product candidates include PNT2002, a prostate-specific membrane antigen (PSMA) targeted radioligand that is in Phase III trial for the treatment of metastatic castration-resistant prostate cancer; and PNT2003, a somatostatin-targeted radioligand, which is in Phase III trial for the treatment of neuroendocrine tumors.

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