IVERIC bio (NASDAQ:ISEE) Now Covered by Analysts at StockNews.com

Analysts at StockNews.com assumed coverage on shares of IVERIC bio (NASDAQ:ISEE – Get Rating) in a note issued to investors on Saturday. The brokerage set a “sell” rating on the stock.

A number of other equities analysts have also recently weighed in on ISEE. Wedbush cut IVERIC bio from an “outperform” rating to a “neutral” rating in a report on Monday, May 1st. UBS Group cut shares of IVERIC bio from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 3rd. Guggenheim lowered shares of IVERIC bio from a “buy” rating to a “neutral” rating in a report on Monday, May 1st. Credit Suisse Group downgraded shares of IVERIC bio from an “outperform” rating to a “neutral” rating in a report on Monday, May 1st. Finally, Morgan Stanley cut IVERIC bio from an “overweight” rating to an “equal weight” rating in a research note on Monday, May 1st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $27.45.

IVERIC bio Price Performance

IVERIC bio stock opened at $37.76 on Friday. The company has a current ratio of 15.53, a quick ratio of 15.53 and a debt-to-equity ratio of 0.20. The company has a 50-day moving average price of $31.34 and a 200 day moving average price of $24.83. IVERIC bio has a 12-month low of $8.85 and a 12-month high of $38.25. The stock has a market cap of $5.20 billion, a P/E ratio of -21.45 and a beta of 1.10.

IVERIC bio (NASDAQ:ISEE – Get Rating) last released its quarterly earnings results on Wednesday, March 1st. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.10). During the same quarter in the previous year, the firm earned ($0.29) EPS. Sell-side analysts anticipate that IVERIC bio will post -1.76 earnings per share for the current year.

Insider Transactions at IVERIC bio

In other news, CFO David Francis Carroll sold 48,171 shares of the firm’s stock in a transaction on Monday, April 24th. The shares were sold at an average price of $30.21, for a total value of $1,455,245.91. Following the sale, the chief financial officer now directly owns 68,472 shares in the company, valued at approximately $2,068,539.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Keith Westby sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $37.12, for a total transaction of $742,400.00. Following the completion of the sale, the chief operating officer now owns 39,652 shares in the company, valued at approximately $1,471,882.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David Francis Carroll sold 48,171 shares of IVERIC bio stock in a transaction on Monday, April 24th. The stock was sold at an average price of $30.21, for a total transaction of $1,455,245.91. Following the sale, the chief financial officer now owns 68,472 shares in the company, valued at $2,068,539.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 213,500 shares of company stock valued at $6,752,471. 2.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On IVERIC bio

Several hedge funds have recently made changes to their positions in ISEE. Balyasny Asset Management LLC grew its stake 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 worth $30,197,000 after buying an additional 1,180,342 shares during the last quarter. Strs Ohio raised its position in IVERIC bio by 13.8% in the 4th quarter. Strs Ohio now owns 16,500 shares of the company’s stock valued at $353,000 after purchasing an additional 2,000 shares during the last quarter. Parkman Healthcare Partners LLC acquired a new stake in IVERIC bio during the 3rd quarter worth $897,000. Integral Health Asset Management LLC purchased a new position in IVERIC bio during the 3rd quarter worth $6,728,000. Finally, Barclays PLC raised its holdings in shares of IVERIC bio by 2,216.1% in the third quarter. Barclays PLC now owns 330,550 shares of the company’s stock valued at $5,930,000 after buying an additional 316,278 shares during the last quarter.

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.