Oyster Point Pharma (NASDAQ:OYST – Get Rating) had its target price dropped by equities research analysts at Piper Sandler from $60.00 to $15.00 in a research note issued to investors on Friday, The Fly reports. Piper Sandler’s price target suggests a potential upside of 271.29% from the stock’s current price.
Separately, Zacks Investment Research raised shares of Oyster Point Pharma from a “sell” rating to a “hold” rating in a research note on Wednesday, May 11th.
OYST stock traded up $0.18 on Friday, hitting $4.04. 4,219 shares of the company’s stock were exchanged, compared to its average volume of 173,647. The stock has a market cap of $107.74 million, a P/E ratio of -0.82 and a beta of 0.98. Oyster Point Pharma has a 12-month low of $3.53 and a 12-month high of $21.01. The company has a debt-to-equity ratio of 1.62, a quick ratio of 7.26 and a current ratio of 7.27. The firm has a 50 day moving average price of $7.74 and a two-hundred day moving average price of $10.75.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Point72 Asset Management L.P. increased its stake in Oyster Point Pharma by 320.3% during the 4th quarter. Point72 Asset Management L.P. now owns 2,101,441 shares of the company’s stock worth $38,372,000 after buying an additional 1,601,441 shares during the period. Telemark Asset Management LLC purchased a new position in Oyster Point Pharma in the first quarter valued at $9,161,000. Paradigm Biocapital Advisors LP boosted its holdings in Oyster Point Pharma by 224.6% in the first quarter. Paradigm Biocapital Advisors LP now owns 987,698 shares of the company’s stock valued at $11,497,000 after purchasing an additional 683,460 shares during the period. KPCB XIV Associates LLC purchased a new position in Oyster Point Pharma in the fourth quarter valued at $6,719,000. Finally, Sio Capital Management LLC purchased a new position in Oyster Point Pharma in the fourth quarter valued at $3,321,000. 86.32% of the stock is owned by hedge funds and other institutional investors.
About Oyster Point Pharma (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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