Jefferies Financial Group Research Analysts Increase Earnings Estimates for IVERIC bio, Inc. (NASDAQ:ISEE)

IVERIC bio, Inc. (NASDAQ:ISEEGet Rating) – Equities researchers at Jefferies Financial Group boosted their FY2023 earnings estimates for shares of IVERIC bio in a research note issued to investors on Tuesday, September 6th. Jefferies Financial Group analyst C. Howerton now anticipates that the company will post earnings per share of ($1.06) for the year, up from their previous forecast of ($1.09). The consensus estimate for IVERIC bio’s current full-year earnings is ($1.49) per share. Jefferies Financial Group also issued estimates for IVERIC bio’s FY2024 earnings at ($0.42) EPS, FY2025 earnings at $1.59 EPS and FY2026 earnings at $5.01 EPS.

IVERIC bio (NASDAQ:ISEEGet Rating) last posted its quarterly earnings results on Tuesday, July 26th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.10). During the same period in the prior year, the company earned ($0.32) EPS.

A number of other equities research analysts have also recently commented on ISEE. StockNews.com raised shares of IVERIC bio to a “sell” rating in a report on Friday, August 19th. Credit Suisse Group lifted their price objective on shares of IVERIC bio to $27.00 in a research note on Tuesday. Stifel Nicolaus lifted their price objective on shares of IVERIC bio from $28.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday. Guggenheim lifted their price objective on shares of IVERIC bio from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Robert W. Baird lifted their price objective on shares of IVERIC bio from $27.00 to $34.00 and gave the company an “outperform” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating and nine have given a buy rating to the company. Based on data from MarketBeat, IVERIC bio presently has an average rating of “Moderate Buy” and an average price target of $26.00.

IVERIC bio Trading Up 18.3 %

NASDAQ:ISEE opened at $17.68 on Friday. The stock has a market capitalization of $2.09 billion, a PE ratio of -14.49 and a beta of 1.55. The firm’s 50 day moving average is $11.71 and its 200 day moving average is $12.88. IVERIC bio has a 12 month low of $8.37 and a 12 month high of $19.34.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC grew its position in IVERIC bio by 36.9% in the first quarter. Nisa Investment Advisors LLC now owns 3,230 shares of the company’s stock worth $54,000 after acquiring an additional 870 shares in the last quarter. Altium Capital Management LP grew its position in IVERIC bio by 0.3% in the fourth quarter. Altium Capital Management LP now owns 329,101 shares of the company’s stock worth $5,503,000 after acquiring an additional 1,000 shares in the last quarter. Handelsbanken Fonder AB grew its position in IVERIC bio by 7.5% in the first quarter. Handelsbanken Fonder AB now owns 17,200 shares of the company’s stock worth $289,000 after acquiring an additional 1,200 shares in the last quarter. Captrust Financial Advisors lifted its stake in IVERIC bio by 14,900.0% in the first quarter. Captrust Financial Advisors now owns 1,500 shares of the company’s stock worth $25,000 after purchasing an additional 1,490 shares during the last quarter. Finally, Belvedere Trading LLC lifted its stake in IVERIC bio by 8.8% in the second quarter. Belvedere Trading LLC now owns 19,225 shares of the company’s stock worth $226,000 after purchasing an additional 1,562 shares during the last quarter.

Insider Activity

In other news, SVP Christopher Paul Simms sold 12,272 shares of the business’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $11.25, for a total transaction of $138,060.00. Following the completion of the transaction, the senior vice president now directly owns 28,547 shares in the company, valued at approximately $321,153.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Christopher Paul Simms sold 12,272 shares of the business’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $11.25, for a total transaction of $138,060.00. Following the completion of the transaction, the senior vice president now directly owns 28,547 shares in the company, valued at approximately $321,153.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Anthony S. Gibney sold 7,791 shares of the company’s stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $9.41, for a total transaction of $73,313.31. Following the completion of the transaction, the executive vice president now owns 10,959 shares of the company’s stock, valued at $103,124.19. The disclosure for this sale can be found here. Company insiders own 2.70% of the company’s stock.

About IVERIC bio

(Get Rating)

IVERIC bio, Inc, a biopharmaceutical company, discovers and develops novel treatments for retinal diseases with a focus on age-related and orphan inherited retinal diseases (IRDs). The company develops Zimura, an inhibitor of complement factor C5 comprising GATHER1, which has completed Phase 2/3 clinical trial; and GATHER2 that is in Phase 3 clinical trial for the treatment of geographic atrophy (GA) secondary to dry age-related macular degeneration (AMD).

See Also

Earnings History and Estimates for IVERIC bio (NASDAQ:ISEE)

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