IVERIC bio (NASDAQ:ISEE) Receives New Coverage from Analysts at UBS Group

UBS Group started coverage on shares of IVERIC bio (NASDAQ:ISEEGet Rating) in a research report released on Tuesday morning, Marketbeat reports. The firm issued a buy rating and a $20.00 price target on the stock.

ISEE has been the subject of several other reports. B. Riley began coverage on IVERIC bio in a report on Thursday, May 12th. They set a neutral rating and a $12.00 price objective for the company. Morgan Stanley boosted their price objective on IVERIC bio from $25.00 to $30.00 and gave the company an overweight rating in a research report on Thursday, July 7th. Bank of America initiated coverage on IVERIC bio in a research note on Wednesday, June 8th. They issued a buy rating and a $18.00 target price on the stock. Stifel Nicolaus upped their price objective on IVERIC bio from $22.00 to $28.00 in a research note on Wednesday, May 4th. Finally, Guggenheim initiated coverage on IVERIC bio in a research note on Wednesday, June 8th. They issued a buy rating and a $30.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $24.20.

IVERIC bio Stock Performance

Shares of ISEE opened at $11.01 on Tuesday. IVERIC bio has a twelve month low of $8.37 and a twelve month high of $19.34. The firm’s 50 day moving average price is $10.56 and its 200 day moving average price is $13.21. The firm has a market cap of $1.30 billion, a PE ratio of -9.02 and a beta of 1.52.

IVERIC bio (NASDAQ:ISEEGet Rating) last posted its quarterly earnings results on Tuesday, July 26th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.10). During the same period in the previous year, the business posted ($0.32) EPS. On average, sell-side analysts anticipate that IVERIC bio will post -1.49 earnings per share for the current fiscal year.

Insider Activity at IVERIC bio

In other news, Director Calvin W. Roberts bought 25,000 shares of the company’s stock in a transaction on Monday, June 13th. The stock was purchased at an average cost of $9.62 per share, for a total transaction of $240,500.00. Following the completion of the transaction, the director now owns 32,500 shares of the company’s stock, valued at $312,650. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In other IVERIC bio news, EVP Anthony S. Gibney sold 7,791 shares of the stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $9.41, for a total value of $73,313.31. Following the completion of the transaction, the executive vice president now directly owns 10,959 shares in the company, valued at $103,124.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Calvin W. Roberts bought 25,000 shares of the company’s stock in a transaction on Monday, June 13th. The stock was purchased at an average price of $9.62 per share, with a total value of $240,500.00. Following the completion of the transaction, the director now directly owns 32,500 shares of the company’s stock, valued at approximately $312,650. The disclosure for this purchase can be found here. 2.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On IVERIC bio

Large investors have recently bought and sold shares of the company. Captrust Financial Advisors raised its position in shares of IVERIC bio by 14,900.0% during the first quarter. Captrust Financial Advisors now owns 1,500 shares of the company’s stock worth $25,000 after acquiring an additional 1,490 shares during the last quarter. Nisa Investment Advisors LLC bought a new position in shares of IVERIC bio during the fourth quarter worth about $33,000. Point72 Hong Kong Ltd bought a new position in shares of IVERIC bio during the fourth quarter worth about $40,000. Adviser Investments LLC bought a new position in shares of IVERIC bio during the second quarter worth about $103,000. Finally, Parametrica Management Ltd bought a new position in shares of IVERIC bio during the second quarter worth about $104,000.

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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Analyst Recommendations for IVERIC bio (NASDAQ:ISEE)

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