StockNews.com Begins Coverage on IVERIC bio (NASDAQ:ISEE)

StockNews.com assumed coverage on shares of IVERIC bio (NASDAQ:ISEE – Get Rating) in a note issued to investors on Friday. The firm set a “sell” rating on the stock.

Other analysts have also issued research reports about the stock. Credit Suisse Group lowered shares of IVERIC bio from an “outperform” rating to a “neutral” rating in a research report on Monday, May 1st. Guggenheim downgraded shares of IVERIC bio from a “buy” rating to a “neutral” rating in a research note on Monday, May 1st. Stifel Nicolaus lowered shares of IVERIC bio from a “buy” rating to a “hold” rating in a report on Friday, May 5th. HC Wainwright lowered shares of IVERIC bio from a “buy” rating to a “neutral” rating in a report on Tuesday, May 2nd. Finally, Robert W. Baird lowered shares of IVERIC bio from an “outperform” rating to a “neutral” rating in a report on Thursday, May 4th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, IVERIC bio has a consensus rating of “Hold” and a consensus target price of $27.45.

IVERIC bio Stock Up 0.8 %

IVERIC bio stock opened at $37.24 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 15.53 and a current ratio of 15.53. IVERIC bio has a fifty-two week low of $8.85 and a fifty-two week high of $38.25. The company has a market capitalization of $5.13 billion, a PE ratio of -21.16 and a beta of 1.10. The firm has a 50 day moving average price of $29.65 and a 200 day moving average price of $24.22.

IVERIC bio (NASDAQ:ISEE – Get Rating) last issued its earnings results on Wednesday, March 1st. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.10). During the same period in the previous year, the business posted ($0.29) EPS. Research analysts expect that IVERIC bio will post -1.74 earnings per share for the current year.

Insider Activity at IVERIC bio

In other news, COO Keith Westby sold 20,000 shares of IVERIC bio stock in a transaction on Monday, May 1st. The stock was sold at an average price of $37.12, for a total transaction of $742,400.00. Following the completion of the sale, the chief operating officer now owns 39,652 shares of the company’s stock, valued at $1,471,882.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other IVERIC bio news, COO Keith Westby sold 20,000 shares of the business’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $37.12, for a total transaction of $742,400.00. Following the completion of the transaction, the chief operating officer now owns 39,652 shares of the company’s stock, valued at $1,471,882.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO David Francis Carroll sold 1,829 shares of the business’s stock in a transaction dated Friday, April 21st. The stock was sold at an average price of $30.00, for a total value of $54,870.00. Following the transaction, the chief financial officer now directly owns 68,472 shares of the company’s stock, valued at approximately $2,054,160. The disclosure for this sale can be found here. Over the last three months, insiders sold 213,500 shares of company stock valued at $6,752,471. 2.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On IVERIC bio

A number of large investors have recently modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in IVERIC bio by 563.0% in the 1st quarter. JPMorgan Chase & Co. now owns 541,865 shares of the company’s stock worth $9,120,000 after acquiring an additional 460,137 shares during the last quarter. Bank of New York Mellon Corp lifted its position in IVERIC bio by 8.1% in the 1st quarter. Bank of New York Mellon Corp now owns 487,001 shares of the company’s stock worth $8,196,000 after buying an additional 36,387 shares during the last quarter. HighTower Advisors LLC bought a new stake in IVERIC bio in the 1st quarter worth approximately $214,000. AlphaCrest Capital Management LLC bought a new stake in IVERIC bio in the first quarter valued at approximately $449,000. Finally, MetLife Investment Management LLC lifted its position in IVERIC bio by 55.4% in the first quarter. MetLife Investment Management LLC now owns 62,622 shares of the company’s stock valued at $1,054,000 after purchasing an additional 22,329 shares during the last quarter.

IVERIC bio Company Profile

(Get Rating)

IVERIC bio, Inc operates as a biopharmaceutical company. The firm engages in discovering, developing and commercializing novel therapeutics to treat ophthalmic diseases, with a focus on age-related and orphan retinal diseases. Its product candidates include Zimura and Gene Therapy. The company was founded by David R.