Zacks Investment Research upgraded shares of IVERIC bio (NASDAQ:ISEE) from a hold rating to a buy rating in a research report report published on Tuesday, Zacks.com reports. Zacks Investment Research currently has $1.75 price objective on the stock.
According to Zacks, “IVERIC bio Inc. is a biotechnology company. It is focused on the discovery and development of novel gene therapy solutions to treat orphan inherited retinal diseases. IVERIC bio Inc., formerly known as Ophthotech Corporation, is based in New York, United States. “
Separately, ValuEngine cut shares of IVERIC bio from a hold rating to a sell rating in a research report on Wednesday, May 1st.
IVERIC bio (NASDAQ:ISEE) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.30) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.36) by $0.06. On average, research analysts anticipate that IVERIC bio will post -1.12 EPS for the current fiscal year.
In related news, insider Glenn Sblendorio acquired 25,000 shares of IVERIC bio stock in a transaction on Friday, May 10th. The stock was purchased at an average cost of $1.48 per share, with a total value of $37,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.30% of the company’s stock.
IVERIC bio Company Profile
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).
Featured Story: What kind of dividend yield to CEF’s pay?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for IVERIC bio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IVERIC bio and related companies with MarketBeat.com's FREE daily email newsletter.