Tyme Technologies (NASDAQ:TYME) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Friday, Zacks.com reports. They currently have a $1.50 price target on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 14.50% from the stock’s previous close.
According to Zacks, “Tyme Technologies, Inc. is a pharmaceutical company. The company is focused on creating medicines which specialize in the body’s immune system to treat diseases. Tyme Technologies, Inc. is headquartered in New York. “
A number of other brokerages have also recently weighed in on TYME. HC Wainwright started coverage on shares of Tyme Technologies in a research report on Monday, August 12th. They set a “buy” rating on the stock. ValuEngine raised shares of Tyme Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd.
Tyme Technologies (NASDAQ:TYME) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. Equities research analysts anticipate that Tyme Technologies will post -0.22 earnings per share for the current year.
In related news, major shareholder Michael Demurjian sold 20,000 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $1.58, for a total transaction of $31,600.00. Over the last 90 days, insiders have sold 320,000 shares of company stock worth $2,226,900. 27.17% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of TYME. Bank of New York Mellon Corp raised its holdings in shares of Tyme Technologies by 5.9% during the second quarter. Bank of New York Mellon Corp now owns 306,199 shares of the company’s stock worth $374,000 after acquiring an additional 17,173 shares during the period. Paloma Partners Management Co acquired a new stake in shares of Tyme Technologies during the second quarter worth $238,000. Finally, Morgan Stanley raised its holdings in shares of Tyme Technologies by 187.8% during the second quarter. Morgan Stanley now owns 139,579 shares of the company’s stock worth $170,000 after acquiring an additional 91,081 shares during the period. Institutional investors and hedge funds own 14.96% of the company’s stock.
About Tyme Technologies
Tyme Technologies, Inc, a clinical-stage biotechnology company, develops novel cancer therapeutics. It is developing SM-88, a combination therapy based on dysfunctional metyrosine derivatives in Phase II development for metastatic pancreatic cancer and biomarker-recurrent prostate cancer. The company was founded in 2011 and is headquartered in New York, New York.
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