IVERIC bio (NASDAQ:ISEE) Lifted to Buy at BidaskClub

BidaskClub upgraded shares of IVERIC bio (NASDAQ:ISEE) from a hold rating to a buy rating in a research report report published on Thursday, BidAskClub reports.

Several other equities analysts have also commented on the stock. Credit Suisse Group started coverage on shares of IVERIC bio in a report on Thursday, August 13th. They issued an outperform rating and a $13.00 price objective on the stock. Wedbush restated a market perform rating and issued a $13.00 price objective on shares of IVERIC bio in a report on Monday, May 25th. Finally, Zacks Investment Research lowered shares of IVERIC bio from a buy rating to a hold rating in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. IVERIC bio has an average rating of Buy and an average target price of $10.67.

NASDAQ:ISEE opened at $6.29 on Thursday. The company’s 50-day moving average is $4.64 and its two-hundred day moving average is $4.35. IVERIC bio has a 1-year low of $0.91 and a 1-year high of $8.97.

IVERIC bio (NASDAQ:ISEE) last posted its earnings results on Wednesday, August 5th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.01). Equities analysts expect that IVERIC bio will post -1.12 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Evoke Wealth LLC purchased a new stake in IVERIC bio during the 2nd quarter worth approximately $37,000. Personal CFO Solutions LLC purchased a new stake in IVERIC bio during the 2nd quarter worth approximately $59,000. State Board of Administration of Florida Retirement System purchased a new stake in IVERIC bio during the 2nd quarter worth approximately $59,000. Engineers Gate Manager LP purchased a new stake in IVERIC bio during the 1st quarter worth approximately $47,000. Finally, JPMorgan Chase & Co. purchased a new stake in IVERIC bio during the 1st quarter worth approximately $59,000. 85.67% of the stock is currently owned by hedge funds and other institutional investors.

About IVERIC bio

IVERIC bio, Inc, a biopharmaceutical company, develops novel therapies to treat ophthalmic diseases with a focus on age-related and orphan retinal diseases. The company is developing Zimura, an inhibitor of complement factor C5, which is in Phase IIb clinical trials for the treatment of geographic atrophy (GA), a late-stage form of dry age-related macular degeneration (AMD) characterized by retinal cell death and degeneration of tissue in the central portion of the retina known as the macula; and autosomal recessive Stargardt disease (STGD1), which is an orphan inherited retinal disease (IRD).

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