Oyster Point Pharma (NASDAQ:OYST) Stock Rating Upgraded by Zacks Investment Research

Oyster Point Pharma (NASDAQ:OYSTGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday, Zacks.com reports.

According to Zacks, “Oyster Point Pharma Inc. is a clinical-stage biopharmaceutical company. It is focused on the discovery, development and commercialization of pharmaceutical therapies to treat ocular surface diseases. The company’s lead product candidate, OC-01, is being developed as a nasal spray to treat the signs and symptoms of dry eye disease. Oyster Point Pharma Inc. is based in Princeton, New Jersey. “

Oyster Point Pharma stock opened at $5.30 on Wednesday. Oyster Point Pharma has a fifty-two week low of $5.12 and a fifty-two week high of $21.01. The company has a debt-to-equity ratio of 0.90, a quick ratio of 7.26 and a current ratio of 7.47. The firm has a 50 day moving average price of $9.28 and a 200 day moving average price of $11.41. The company has a market capitalization of $141.35 million, a PE ratio of -1.07 and a beta of 0.98.

Oyster Point Pharma (NASDAQ:OYSTGet Rating) last posted its earnings results on Thursday, May 5th. The company reported ($1.80) earnings per share for the quarter, missing the consensus estimate of ($1.75) by ($0.05). During the same quarter in the previous year, the business posted ($0.73) EPS. As a group, equities research analysts forecast that Oyster Point Pharma will post -6.56 earnings per share for the current year.

A number of institutional investors have recently bought and sold shares of the stock. Wells Fargo & Company MN acquired a new position in shares of Oyster Point Pharma in the fourth quarter worth $70,000. Lazard Asset Management LLC acquired a new position in shares of Oyster Point Pharma in the fourth quarter worth $82,000. Royal Bank of Canada grew its stake in shares of Oyster Point Pharma by 162.9% in the third quarter. Royal Bank of Canada now owns 4,651 shares of the company’s stock worth $55,000 after acquiring an additional 2,882 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Oyster Point Pharma by 53.9% in the fourth quarter. JPMorgan Chase & Co. now owns 6,564 shares of the company’s stock worth $120,000 after acquiring an additional 2,298 shares in the last quarter. Finally, HighTower Advisors LLC acquired a new position in shares of Oyster Point Pharma in the third quarter worth $129,000. Hedge funds and other institutional investors own 86.32% of the company’s stock.

Oyster Point Pharma Company Profile (Get Rating)

Oyster Point Pharma, Inc, a commercial-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of pharmaceutical therapies to treat ophthalmic diseases in the United States. The company's product candidate is TYRVAYA, a nicotinic acetylcholine receptor agonist for the treatment of signs and symptoms of dry eye disease.

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