Graybug Vision (NASDAQ:GRAY) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Graybug Vision (NASDAQ:GRAY – Get Rating) from a sell rating to a hold rating in a report issued on Friday, Zacks.com reports.

According to Zacks, “Graybug Vision Inc. is a clinical-stage biopharmaceutical company. It is focused on developing transformative medicines to treat chronic vision-threatening diseases of the retina and optic nerve. The company’s product candidate includes GB-102, GB-401 and GB-103 which are in clinical stage. Graybug Vision Inc. is headquartered in Redwood City, California. “

Several other analysts also recently issued reports on the stock. Wedbush reaffirmed a neutral rating and set a $3.00 price objective on shares of Graybug Vision in a report on Thursday, March 31st. Cantor Fitzgerald decreased their price objective on shares of Graybug Vision from $4.00 to $2.50 in a report on Wednesday. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Graybug Vision presently has a consensus rating of Hold and an average target price of $3.56.

Shares of GRAY opened at $0.83 on Friday. The company’s fifty day moving average is $1.14 and its 200-day moving average is $1.70. Graybug Vision has a 12 month low of $0.72 and a 12 month high of $7.06.

Graybug Vision (NASDAQ:GRAY – Get Rating) last posted its quarterly earnings data on Thursday, March 10th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.05). Equities research analysts forecast that Graybug Vision will post -1.71 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of the business. Millennium Management LLC acquired a new position in shares of Graybug Vision in the 2nd quarter valued at $126,000. Johnson & Johnson acquired a new position in shares of Graybug Vision in the 3rd quarter valued at $164,000. GSA Capital Partners LLP acquired a new position in shares of Graybug Vision in the 4th quarter valued at $158,000. State Street Corp raised its stake in shares of Graybug Vision by 70.7% in the 4th 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 in the last quarter. Finally, Advisor Group Holdings Inc. acquired a new stake in shares of Graybug Vision during the 1st quarter worth about $740,000. 52.88% of the stock is owned by hedge funds and other institutional investors.

Graybug Vision Company Profile (Get Rating)

Graybug Vision, Inc, a clinical-stage biopharmaceutical company, focuses on the development of 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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