Jupiter Asset Management Ltd. Buys 229,687 Shares of POINT Biopharma Global Inc. (NASDAQ:PNT)

Jupiter Asset Management Ltd. boosted its stake in shares of POINT Biopharma Global Inc. (NASDAQ:PNT) by 263.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 316,802 shares of the company’s stock after purchasing an additional 229,687 shares during the quarter. Jupiter Asset Management Ltd. owned about 0.30% of POINT Biopharma Global worth $2,864,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. BVF Inc. IL lifted its holdings in shares of POINT Biopharma Global by 15.1% during the first quarter. BVF Inc. IL now owns 10,563,748 shares of the company’s stock worth $76,798,000 after buying an additional 1,386,000 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of POINT Biopharma Global by 107.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 116,053 shares of the company’s stock worth $1,051,000 after buying an additional 60,165 shares during the last quarter. Great Point Partners LLC lifted its holdings in shares of POINT Biopharma Global by 33.1% during the first quarter. Great Point Partners LLC now owns 3,383,029 shares of the company’s stock worth $24,595,000 after buying an additional 841,250 shares during the last quarter. Moody Aldrich Partners LLC acquired a new position in shares of POINT Biopharma Global during the second quarter worth approximately $1,318,000. Finally, AlphaCentric Advisors LLC acquired a new position in shares of POINT Biopharma Global during the second quarter worth approximately $634,000. Institutional investors own 59.53% of the company’s stock.

POINT Biopharma Global Stock Performance

Shares of NASDAQ:PNT opened at $13.68 on Friday. The business’s fifty day moving average price is $10.99 and its two-hundred day moving average price is $9.73. POINT Biopharma Global Inc. has a fifty-two week low of $6.16 and a fifty-two week high of $13.77. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of 15.20 and a beta of -0.05. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.14 and a quick ratio of 10.51.

POINT Biopharma Global (NASDAQ:PNT) last announced its quarterly earnings results on Monday, November 13th. The company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.07. The firm had revenue of $2.79 million for the quarter, compared to analysts’ expectations of $8.00 million. POINT Biopharma Global had a return on equity of 21.10% and a net margin of 39.62%. As a group, analysts predict that POINT Biopharma Global Inc. will post -0.71 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PNT has been the subject of a number of recent research reports. Guggenheim lowered POINT Biopharma Global from a “buy” rating to a “neutral” rating in a research note on Wednesday, October 4th. Raymond James lowered POINT Biopharma Global from an “outperform” rating to a “market perform” rating and cut their target price for the company from $13.00 to $12.50 in a research note on Thursday, October 5th. Truist Financial lowered POINT Biopharma Global from a “buy” rating to a “hold” rating and cut their target price for the company from $13.00 to $12.50 in a research note on Tuesday, October 3rd. Jonestrading restated a “hold” rating on shares of POINT Biopharma Global in a research note on Wednesday, October 4th. Finally, SVB Leerink lowered POINT Biopharma Global from an “outperform” rating to a “market perform” rating in a research note on Friday, October 6th. Nine equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $13.10.

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.