Zacks Investment Research Lowers Checkpoint Therapeutics (CKPT) to Sell

Checkpoint Therapeutics (NASDAQ:CKPT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

According to Zacks, “Checkpoint Therapeutics, Inc. is a clinical stage, immuno oncology biopharmaceutical. It focused on the acquisition, development and commercialization of non-chemotherapy, immune-enhanced combination treatments for patients with solid tumor cancers. Checkpoint Therapeutics, Inc. is headquartered in New York City. “

A number of other equities analysts have also weighed in on CKPT. ValuEngine upgraded Checkpoint Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, November 1st. HC Wainwright set a $11.00 price objective on Checkpoint Therapeutics and gave the company a “buy” rating in a research note on Friday, November 2nd.

Shares of NASDAQ CKPT traded up $0.15 during trading on Wednesday, reaching $2.15. 43,800 shares of the company traded hands, compared to its average volume of 91,533. The firm has a market capitalization of $74.49 million, a P/E ratio of -2.15 and a beta of 1.98. Checkpoint Therapeutics has a 12-month low of $1.89 and a 12-month high of $6.50.

Checkpoint Therapeutics (NASDAQ:CKPT) last released its quarterly earnings data on Friday, November 2nd. The company reported ($0.32) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.26) by ($0.06). The company had revenue of $0.01 million for the quarter, compared to analysts’ expectations of $0.26 million. Checkpoint Therapeutics had a negative net margin of 3,800.00% and a negative return on equity of 138.91%. Sell-side analysts expect that Checkpoint Therapeutics will post -1.02 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CKPT. BlackRock Inc. purchased a new position in shares of Checkpoint Therapeutics during the 2nd quarter valued at about $164,000. Bainco International Investors purchased a new position in shares of Checkpoint Therapeutics during the 2nd quarter valued at about $277,000. Finally, Millennium Management LLC purchased a new position in shares of Checkpoint Therapeutics during the 1st quarter valued at about $331,000. Institutional investors and hedge funds own 1.84% of the company’s stock.

Checkpoint Therapeutics Company Profile

Checkpoint Therapeutics, Inc, an immuno-oncology biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel treatments for patients with solid tumor cancers. The company's products include CK-301 in Phase I clinical trials for the treatment of non-small cell lung cancer (NSCLC); and CK-101 in the Phase 1 portion of a Phase 1/2 clinical trial for the treatment of epidermal growth factor receptor (EGFR) mutation-positive NSCLC.

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