Graybug Vision, Inc. (NASDAQ:GRAY) Receives $4.00 Consensus Target Price from Brokerages

Shares of Graybug Vision, Inc. (NASDAQ:GRAYGet Rating) have been assigned a consensus rating of “Hold” from the seven research firms that are covering the company, reports. Five equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $4.00.

A number of research firms have recently commented on GRAY. Wells Fargo & Company assumed coverage on Graybug Vision in a research report on Monday, January 3rd. They set an “overweight” rating on the stock. Cantor Fitzgerald reissued a “buy” rating and issued a $4.00 target price on shares of Graybug Vision in a research note on Friday, March 25th. Wedbush reissued a “neutral” rating and issued a $3.00 target price on shares of Graybug Vision in a research note on Thursday, March 31st. Finally, Zacks Investment Research raised shares of Graybug Vision from a “sell” rating to a “hold” rating in a research report on Wednesday, April 6th.

NASDAQ GRAY traded down $0.01 during trading hours on Wednesday, hitting $1.18. 25,593 shares of the company were exchanged, compared to its average volume of 69,866. The stock has a 50-day moving average price of $1.26 and a 200 day moving average price of $2.05. Graybug Vision has a 52 week low of $1.05 and a 52 week high of $7.06. The stock has a market cap of $25.20 million, a PE ratio of -0.70 and a beta of 3.02.

Graybug Vision (NASDAQ:GRAYGet Rating) last posted its earnings results on Thursday, March 10th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.04). As a group, analysts expect that Graybug Vision will post -1.62 EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. GSA Capital Partners LLP acquired a new position in Graybug Vision during the fourth quarter worth about $158,000. Johnson & Johnson purchased a new position in shares of Graybug Vision during the third quarter valued at approximately $164,000. State Street Corp lifted its stake in shares of Graybug Vision by 70.7% during the fourth quarter. State Street Corp now owns 35,073 shares of the company’s stock valued at $64,000 after buying an additional 14,525 shares during the period. Finally, Millennium Management LLC purchased a new position in shares of Graybug Vision during the second quarter valued at approximately $126,000. Institutional investors own 52.30% of the company’s stock.

About Graybug Vision (Get Rating)

Graybug Vision, Inc, a clinical-stage biopharmaceutical company, develops medicines for the treatment of diseases of the retina and optic nerve. The company's lead product candidate is GB-102, an intravitreal injection of a microparticle depot formulation of sunitinib that is in Phase I/IIa and IIb clinical trials for the treatment of wet age-related macular degeneration, as well as in Phase IIa clinical trial to treat diabetic macular edema.

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