POINT Biopharma Global Inc. (NASDAQ:PNT – Get Free Report)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $13.79 and last traded at $13.76, with a volume of 143639 shares changing hands. The stock had previously closed at $13.71.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on the company. Jonestrading reiterated a “hold” rating on shares of POINT Biopharma Global in a research note on Wednesday, October 4th. Leerink Partnrs downgraded POINT Biopharma Global from an “outperform” rating to a “market perform” rating in a research note on Friday, October 6th. William Blair downgraded POINT Biopharma Global from an “outperform” rating to a “market perform” rating in a research note on Tuesday, October 3rd. Raymond James downgraded POINT Biopharma Global from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $13.00 to $12.50 in a research note on Thursday, October 5th. Finally, Jefferies Financial Group downgraded POINT Biopharma Global from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Nine research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $13.10.
POINT Biopharma Global Stock Performance
POINT Biopharma Global (NASDAQ:PNT – Get Free Report) last announced its quarterly earnings results on Monday, November 13th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.07. POINT Biopharma Global had a return on equity of 21.10% and a net margin of 39.62%. The company had revenue of $2.79 million during the quarter, compared to analyst estimates of $8.00 million. As a group, equities research analysts forecast that POINT Biopharma Global Inc. will post -0.71 earnings per share for the current year.
Hedge Funds Weigh In On POINT Biopharma Global
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp lifted its stake in POINT Biopharma Global by 721.6% during the second quarter. State Street Corp now owns 2,217,796 shares of the company’s stock valued at $15,103,000 after purchasing an additional 1,947,859 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of POINT Biopharma Global by 124.4% during the 1st quarter. Vanguard Group Inc. now owns 3,200,215 shares of the company’s stock worth $25,506,000 after acquiring an additional 1,774,040 shares in the last quarter. BVF Inc. IL grew its holdings in shares of POINT Biopharma Global by 15.1% in the 1st quarter. BVF Inc. IL now owns 10,563,748 shares of the company’s stock worth $76,798,000 after acquiring an additional 1,386,000 shares during the last quarter. Balyasny Asset Management LLC acquired a new stake in shares of POINT Biopharma Global during the third quarter worth $10,223,000. Finally, Bellevue Group AG purchased a new stake in shares of POINT Biopharma Global during the second quarter valued at $11,381,000. 59.53% of the stock is owned by institutional investors.
About POINT Biopharma Global
POINT Biopharma Global Inc, a radiopharmaceutical company, develops and commercializes radioligands that fight cancer. Its lead product candidates include PNT2002, a prostate-specific membrane antigen (PSMA) targeted radioligand that is in Phase III trial for the treatment of metastatic castration-resistant prostate cancer; and PNT2003, a somatostatin-targeted radioligand, which is in Phase III trial for the treatment of neuroendocrine tumors.
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