IVERIC bio, Inc. (NASDAQ:ISEE) Given Average Recommendation of “Moderate Buy” by Analysts

IVERIC bio, Inc. (NASDAQ:ISEE – Get Rating) has received an average rating of “Moderate Buy” from the eleven research firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and seven have given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $27.30.

ISEE has been the subject of several research analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $35.00 target price on shares of IVERIC bio in a research note on Thursday, March 2nd. B. Riley boosted their target price on IVERIC bio from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 21st.

Insider Activity at IVERIC bio

In other IVERIC bio news, COO Keith Westby sold 6,740 shares of IVERIC bio stock in a transaction on Monday, December 19th. The shares were sold at an average price of $21.51, for a total transaction of $144,977.40. Following the completion of the transaction, the chief operating officer now directly owns 81,084 shares of the company’s stock, valued at $1,744,116.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other IVERIC bio news, COO Keith Westby sold 6,740 shares of the business’s stock in a transaction that occurred on Monday, December 19th. The stock was sold at an average price of $21.51, for a total transaction of $144,977.40. Following the completion of the transaction, the chief operating officer now owns 81,084 shares in the company, valued at $1,744,116.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Glenn Sblendorio sold 19,457 shares of the stock in a transaction that occurred on Monday, December 19th. The stock was sold at an average price of $21.51, for a total value of $418,520.07. Following the completion of the sale, the chief executive officer now owns 244,138 shares in the company, valued at $5,251,408.38. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 93,765 shares of company stock worth $2,079,385. Company insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ISEE. Balyasny Asset Management LLC raised its position in IVERIC bio by 234.7% during the 3rd quarter. Balyasny Asset Management LLC now owns 1,683,235 shares of the company’s stock valued at $30,197,000 after purchasing an additional 1,180,342 shares in the last quarter. Trexquant Investment LP purchased a new stake in IVERIC bio in the second quarter worth about $704,000. Parkman Healthcare Partners LLC bought a new position in IVERIC bio during the 3rd quarter worth about $897,000. Integral Health Asset Management LLC purchased a new position in IVERIC bio during the 3rd quarter valued at about $6,728,000. Finally, Barclays PLC raised its holdings in shares of IVERIC bio by 2,216.1% in the 3rd quarter. Barclays PLC now owns 330,550 shares of the company’s stock valued at $5,930,000 after purchasing an additional 316,278 shares in the last quarter.

IVERIC bio Stock Performance

NASDAQ:ISEE opened at $24.09 on Friday. The stock has a 50-day moving average price of $21.55 and a 200 day moving average price of $20.33. The stock has a market capitalization of $3.30 billion, a P/E ratio of -15.85 and a beta of 1.09. IVERIC bio has a 12-month low of $8.85 and a 12-month high of $26.35. The company has a current ratio of 18.63, a quick ratio of 18.63 and a debt-to-equity ratio of 0.18.

IVERIC bio (NASDAQ:ISEE – Get Rating) last announced its quarterly earnings data on Wednesday, March 1st. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.10). During the same quarter last year, the firm earned ($0.29) EPS. Equities research analysts forecast that IVERIC bio will post -1.68 EPS for the current fiscal year.

About IVERIC bio

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IVERIC bio, Inc operates as a biopharmaceutical company. The firm engages in discovering, developing and commercializing novel therapeutics to treat ophthalmic diseases, with a focus on age-related and orphan retinal diseases. Its product candidates include Zimura and Gene Therapy. The company was founded by David R.