uploads///dna _

Endocyte Stock Has Seen a Solid Hike in 2018

By

Nov. 26 2018, Published 11:33 a.m. ET

ECYT’s performance

Endocyte (ECYT) stock rose from $4.28 at the close of market on December 29, 2017, to $23.60 at the close of market on November 20, 2018, representing ~451% YTD (year-to-date) growth.

On November 21, Endocyte stock closed at $23.60, a ~740% rise from its 52-week low of $2.81 on February 6. Endocyte hit its 52-week high of $23.89 on November 5.

Article continues below advertisement

Recent developments

In October, Endocyte announced a merger with Novartis (NVS). Novartis agreed to acquire Endocyte for $24 per share, which amounts to a total equity value of ~$2.1 billion. Endocyte’s board of directors unanimously approved the transaction. The acquisition is expected to be completed by the first half of 2019 following its approval by Endocyte’s stockholders.

Financials in a nutshell

Endocyte reported net collaboration revenue of $58,000 in the first nine months of 2018 compared to $116,000 in the same period of the previous year.

Endocyte’s research and development and general and administrative expenses in the first nine months of the year amounted to $20.7 million and $10.1 million, respectively, compared to $21.7 million and $13.2 million, respectively, in the same period of the previous year.

Endocyte’s net income and diluted EPS over the first nine months of 2018 amounted to -$46.5 million and -$1.09, respectively, compared to its net income and diluted EPS of -$32.7 million and -$0.50, respectively, in the same period of the previous year.

Analysts’ recommendations

Of the four analysts tracking Endocyte in November, one has recommended a “strong buy,” while one has recommended a “buy” on the stock. Two analysts have recommended “holds” on Endocyte in November.

On November 22, Endocyte had a consensus 12-month target price of $24.33, representing a potential ~3.09% return on investment over the next 12 months.

Advertisement

More From Market Realist

    • CONNECT with Market Realist
    • Link to Facebook
    • Link to Twitter
    • Link to Instagram
    • Link to Email Subscribe
    Market Realist Logo
    Do Not Sell My Personal Information

    © Copyright 2021 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.