William Blair assumed coverage on shares of Beyondspring (NASDAQ:BYSI) in a note issued to investors on Tuesday, The Fly reports. The firm set an “outperform” rating on the stock.
Several other equities research analysts have also issued reports on the stock. ValuEngine raised shares of Beyondspring from a “hold” rating to a “buy” rating in a report on Friday, October 25th. HC Wainwright restated a “buy” rating and issued a $41.00 price objective on shares of Beyondspring in a research note on Wednesday, September 18th. Finally, Zacks Investment Research downgraded shares of Beyondspring from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $30.00.
Shares of NASDAQ:BYSI opened at $12.53 on Tuesday. The firm has a market capitalization of $323.25 million, a PE ratio of -5.18 and a beta of 1.21. Beyondspring has a 1-year low of $11.26 and a 1-year high of $25.79. The business’s 50 day moving average is $14.06 and its 200-day moving average is $16.99.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in Beyondspring during the second quarter valued at approximately $11,904,000. State Street Corp raised its holdings in shares of Beyondspring by 24.4% in the 3rd quarter. State Street Corp now owns 155,717 shares of the company’s stock worth $2,818,000 after buying an additional 30,515 shares in the last quarter. Vanguard Group Inc. acquired a new position in shares of Beyondspring in the 2nd quarter worth approximately $956,000. Russell Investments Group Ltd. bought a new position in shares of Beyondspring during the 3rd quarter worth approximately $678,000. Finally, Northern Trust Corp bought a new position in shares of Beyondspring during the 2nd quarter worth approximately $720,000. 5.66% of the stock is currently owned by institutional investors.
BeyondSpring Inc, a clinical stage biopharmaceutical company, focuses on the development of cancer therapies. The company is advancing its lead asset, Plinabulin, into a Phase 2/3 clinical trial for the reduction of docetaxel chemotherapy-induced severe, grade 4 neutropenia; a Phase 2/3 clinical trial for the prevention of non-docetaxel chemotherapy-induced severe, grade 4 neutropenia; a Phase 3 clinical trial as an anticancer agent in combination with docetaxel in advanced non-small cell lung cancer; and Phase 1/2 clinical trials with the immuno-oncology agent nivolumab.
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