Piper Sandler Lowers Oyster Point Pharma (NASDAQ:OYST) Price Target to $15.00

Oyster Point Pharma (NASDAQ:OYSTGet 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.

Oyster Point Pharma (NASDAQ:OYSTGet Rating) last issued its earnings results on Thursday, May 5th. The company reported ($1.80) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.75) by ($0.05). During the same period in the prior year, the firm posted ($0.73) earnings per share. Sell-side analysts expect that Oyster Point Pharma will post -6.18 earnings per share for the current fiscal year.

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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