Shares of POINT Biopharma Global Inc. (NASDAQ:PNT – Get Free Report) saw unusually-high trading volume on Wednesday . Approximately 3,264,337 shares traded hands during trading, an increase of 181% from the previous session’s volume of 1,160,228 shares.The stock last traded at $13.46 and had previously closed at $13.26.
Analyst Upgrades and Downgrades
PNT has been the topic of several research reports. Piper Sandler restated a “neutral” rating and set a $12.50 price target on shares of POINT Biopharma Global in a research note on Tuesday, October 24th. William Blair lowered shares of POINT Biopharma Global from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 3rd. Truist Financial downgraded shares of POINT Biopharma Global from a “buy” rating to a “hold” rating and dropped their price objective for the company from $13.00 to $12.50 in a research note on Tuesday, October 3rd. Raymond James lowered POINT Biopharma Global from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $13.00 to $12.50 in a report on Thursday, October 5th. Finally, Guggenheim downgraded POINT Biopharma Global from a “buy” rating to a “neutral” rating in a report on Wednesday, October 4th. Nine analysts have rated the stock with a hold rating, According to MarketBeat, POINT Biopharma Global presently has an average rating of “Hold” and an average target price of $13.42.
POINT Biopharma Global Stock Down 0.5 %
POINT Biopharma Global (NASDAQ:PNT – Get Free Report) last announced its quarterly earnings results on Monday, November 13th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.07. The firm had revenue of $2.79 million for the quarter, compared to the consensus estimate of $8.00 million. POINT Biopharma Global had a net margin of 39.62% and a return on equity of 21.10%. Equities research analysts expect that POINT Biopharma Global Inc. will post -0.71 EPS for the current fiscal year.
Institutional Trading of POINT Biopharma Global
Several institutional investors have recently modified their holdings of the stock. State Street Corp increased its position in shares of POINT Biopharma Global by 721.6% during the second quarter. State Street Corp now owns 2,217,796 shares of the company’s stock worth $15,103,000 after purchasing an additional 1,947,859 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of POINT Biopharma Global by 124.4% during the first quarter. Vanguard Group Inc. now owns 3,200,215 shares of the company’s stock worth $25,506,000 after buying an additional 1,774,040 shares in the last quarter. BVF Inc. IL raised its position in shares of POINT Biopharma Global by 15.1% in the first quarter. BVF Inc. IL now owns 10,563,748 shares of the company’s stock valued at $76,798,000 after buying an additional 1,386,000 shares during the last quarter. Balyasny Asset Management LLC acquired a new stake in shares of POINT Biopharma Global in the third quarter valued at about $10,223,000. Finally, Bellevue Group AG purchased a new position in shares of POINT Biopharma Global in the second quarter worth about $11,381,000. Institutional investors and hedge funds own 59.53% of the company’s stock.
POINT Biopharma Global Company Profile
POINT Biopharma Global Inc, a radiopharmaceutical company, develops and commercializes 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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