FY2024 EPS Estimates for BioVie Inc. (NASDAQ:BIVI) Increased by Cantor Fitzgerald

BioVie Inc. (NASDAQ:BIVI) – Equities research analysts at Cantor Fitzgerald boosted their FY2024 earnings per share (EPS) estimates for shares of BioVie in a research report issued on Tuesday, November 14th. Cantor Fitzgerald analyst C. Duncan now forecasts that the company will post earnings per share of ($1.02) for the year, up from their prior estimate of ($1.04). Cantor Fitzgerald has a “Overweight” rating and a $11.00 price target on the stock. The consensus estimate for BioVie’s current full-year earnings is ($1.16) per share.

BioVie Stock Up 4.9 %

NASDAQ:BIVI opened at $4.05 on Friday. The firm has a market capitalization of $152.85 million, a price-to-earnings ratio of -2.79 and a beta of 1.58. BioVie has a twelve month low of $2.31 and a twelve month high of $14.38. The stock’s 50 day moving average price is $3.50 and its two-hundred day moving average price is $4.57. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 0.39.

BioVie (NASDAQ:BIVI) last posted its quarterly earnings results on Wednesday, August 16th. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.14.

Insiders Place Their Bets

In other BioVie news, Director Steve Gorlin sold 8,560 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $3.05, for a total transaction of $26,108.00. Following the transaction, the director now owns 75,680 shares of the company’s stock, valued at approximately $230,824. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Richard J. Berman sold 10,805 shares of BioVie stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $3.50, for a total transaction of $37,817.50. Following the completion of the transaction, the director now directly owns 16,789 shares in the company, valued at approximately $58,761.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steve Gorlin sold 8,560 shares of BioVie stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $3.05, for a total value of $26,108.00. Following the transaction, the director now owns 75,680 shares of the company’s stock, valued at $230,824. The disclosure for this sale can be found here. Insiders own 4.80% of the company’s stock.

Institutional Trading of BioVie

Several institutional investors have recently added to or reduced their stakes in BIVI. UBS Group AG lifted its position in shares of BioVie by 284.2% during the 4th quarter. UBS Group AG now owns 3,565 shares of the company’s stock valued at $28,000 after acquiring an additional 2,637 shares during the period. Commonwealth Equity Services LLC lifted its position in shares of BioVie by 33.5% during the 1st quarter. Commonwealth Equity Services LLC now owns 16,255 shares of the company’s stock valued at $131,000 after acquiring an additional 4,080 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of BioVie by 2,706.5% during the 1st quarter. Tower Research Capital LLC TRC now owns 4,294 shares of the company’s stock valued at $35,000 after acquiring an additional 4,141 shares during the period. Wells Fargo & Company MN lifted its position in shares of BioVie by 162.3% during the 4th quarter. Wells Fargo & Company MN now owns 7,044 shares of the company’s stock valued at $55,000 after acquiring an additional 4,359 shares during the period. Finally, Bank of America Corp DE lifted its position in shares of BioVie by 33.3% during the 1st quarter. Bank of America Corp DE now owns 24,596 shares of the company’s stock valued at $199,000 after acquiring an additional 6,138 shares during the period. 5.21% of the stock is currently owned by institutional investors.

BioVie Company Profile

BioVie Inc, a clinical stage biopharmaceutical company, engages in the discovery, development, and commercialization of drugs for the treatment of chronic debilitating conditions in the United States. Its products pipeline includes BIV201, which completed Phase IIa clinical trial for the treatment of ascites caused due to chronic liver cirrhosis; and NE3107, a potentially selective inhibitor of inflammatory extracellular single-regulated kinase, which is in Phase III clinical trial for the treatment of patients with mild to moderate Alzheimer's disease, as well as Phase 2 clinical trial for the treatment of Parkinson's disease.