POINT Biopharma Global Inc. (NASDAQ:PNT) Given Average Recommendation of “Hold” by Brokerages

Shares of POINT Biopharma Global Inc. (NASDAQ:PNT) have been given an average rating of “Hold” by the nine analysts that are covering the company, Marketbeat Ratings reports. Nine research analysts have rated the stock with a hold recommendation. The average 12-month price target among brokerages that have covered the stock in the last year is $13.42.

Several brokerages have recently weighed in on PNT. Truist Financial lowered shares of POINT Biopharma Global from a “buy” rating to a “hold” rating and decreased their target price for the company from $13.00 to $12.50 in a research report on Tuesday, October 3rd. Raymond James downgraded shares of POINT Biopharma Global from an “outperform” rating to a “market perform” rating and cut their price target for the company from $13.00 to $12.50 in a report on Thursday, October 5th. Leerink Partnrs downgraded shares of POINT Biopharma Global from an “outperform” rating to a “market perform” rating in a report on Friday, October 6th. SVB Leerink downgraded shares of POINT Biopharma Global from an “outperform” rating to a “market perform” rating in a report on Friday, October 6th. Finally, Jonestrading reissued a “hold” rating on shares of POINT Biopharma Global in a report on Wednesday, October 4th.

Institutional Investors Weigh In On POINT Biopharma Global

A number of institutional investors and hedge funds have recently modified their holdings of the business. Teacher Retirement System of Texas lifted its holdings in POINT Biopharma Global by 4.7% in the third quarter. Teacher Retirement System of Texas now owns 18,016 shares of the company’s stock valued at $120,000 after buying an additional 814 shares during the period. Legal & General Group Plc increased its stake in POINT Biopharma Global by 5.0% in the fourth quarter. Legal & General Group Plc now owns 29,937 shares of the company’s stock valued at $218,000 after purchasing an additional 1,413 shares in the last quarter. ProShare Advisors LLC increased its stake in POINT Biopharma Global by 15.2% in the second quarter. ProShare Advisors LLC now owns 11,768 shares of the company’s stock valued at $107,000 after purchasing an additional 1,550 shares in the last quarter. American International Group Inc. increased its stake in POINT Biopharma Global by 4.0% in the second quarter. American International Group Inc. now owns 43,553 shares of the company’s stock valued at $395,000 after purchasing an additional 1,655 shares in the last quarter. Finally, Voya Investment Management LLC increased its stake in POINT Biopharma Global by 8.6% in the fourth quarter. Voya Investment Management LLC now owns 32,060 shares of the company’s stock valued at $234,000 after purchasing an additional 2,550 shares in the last quarter. 59.53% of the stock is owned by institutional investors.

POINT Biopharma Global Stock Performance

NASDAQ:PNT opened at $12.66 on Wednesday. POINT Biopharma Global has a 1 year low of $5.59 and a 1 year high of $13.02. The firm’s fifty day simple moving average is $9.67 and its 200 day simple moving average is $9.25. The company has a current ratio of 10.51, a quick ratio of 10.51 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $1.34 billion, a PE ratio of 14.55 and a beta of 0.22.

POINT Biopharma Global (NASDAQ:PNT) last posted its quarterly earnings results on Monday, August 14th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.05. The company had revenue of $4.87 million during the quarter, compared to analyst estimates of $8.50 million. On average, sell-side analysts anticipate that POINT Biopharma Global will post -1 EPS for the current year.

POINT Biopharma Global Company Profile

POINT Biopharma Global Inc, a radiopharmaceutical company, develops and commercializes radioligands that fight cancer. Its lead product candidates include PNT2002, a prostate-specific membrane antigen (PSMA) targeted radioligand that is in Phase III trial for the treatment of metastatic castration-resistant prostate cancer; and PNT2003, a somatostatin-targeted radioligand, which is in Phase III trial for the treatment of neuroendocrine tumors.