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POINT Biopharma Global (NASDAQ:PNT) Shares Up 6.5%

Financial News Live · Jan 31, 2023 13:02

Shares of POINT Biopharma Global Inc. (NASDAQ:PNT – Get Rating) shot up 6.5% during trading on Tuesday . The company traded as high as $7.96 and last traded at $7.89. 140,575 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 519,149 shares. The stock had previously closed at $7.41.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on PNT shares. SVB Leerink started coverage on shares of POINT Biopharma Global in a research report on Wednesday, November 30th. They issued an "outperform" rating and a $14.00 target price for the company. Truist Financial dropped their target price on shares of POINT Biopharma Global from $22.00 to $14.00 and set a "buy" rating for the company in a research report on Tuesday, November 15th. Raymond James started coverage on shares of POINT Biopharma Global in a research report on Wednesday, December 14th. They issued an "outperform" rating and a $10.00 target price for the company. Oppenheimer dropped their target price on shares of POINT Biopharma Global to $15.00 in a research report on Thursday, November 17th. Finally, Piper Sandler dropped their target price on shares of POINT Biopharma Global from $17.00 to $14.00 in a research report on Monday, November 14th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, POINT Biopharma Global presently has a consensus rating of "Buy" and a consensus target price of $16.13.

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POINT Biopharma Global Stock Performance

The business's 50 day moving average price is $7.00 and its two-hundred day moving average price is $7.86. The company has a market capitalization of $821.84 million, a price-to-earnings ratio of -9.13 and a beta of 0.06.

POINT Biopharma Global (NASDAQ:PNT – Get Rating) last issued its quarterly earnings results on Monday, November 14th. The company reported ($0.26) earnings per share for the quarter, topping analysts' consensus estimates of ($0.28) by $0.02. On average, sell-side analysts expect that POINT Biopharma Global Inc. will post -0.48 earnings per share for the current year.

Insider Transactions at POINT Biopharma Global

In related news, Chairman Allan C. Silber purchased 27,603 shares of POINT Biopharma Global stock in a transaction dated Thursday, November 17th. The stock was bought at an average cost of $6.00 per share, with a total value of $165,618.00. Following the purchase, the chairman now owns 4,246,208 shares in the company, valued at approximately $25,477,248. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In other POINT Biopharma Global news, Chairman Allan C. Silber bought 27,603 shares of the business's stock in a transaction that occurred on Thursday, November 17th. The stock was acquired at an average cost of $6.00 per share, with a total value of $165,618.00. Following the completion of the purchase, the chairman now directly owns 4,246,208 shares in the company, valued at $25,477,248. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jonathan R. Goodman bought 6,000 shares of the business's stock in a transaction that occurred on Friday, November 18th. The shares were acquired at an average cost of $6.33 per share, with a total value of $37,980.00. Following the completion of the purchase, the director now owns 41,872 shares of the company's stock, valued at $265,049.76. The disclosure for this purchase can be found here. In the last three months, insiders purchased 37,473 shares of company stock valued at $229,158. Company insiders own 18.70% of the company's stock.

Institutional Trading of POINT Biopharma Global

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Arizona State Retirement System acquired a new stake in shares of POINT Biopharma Global during the second quarter valued at approximately $75,000. Affinity Asset Advisors LLC acquired a new stake in shares of POINT Biopharma Global during the second quarter valued at approximately $174,000. Silverarc Capital Management LLC acquired a new stake in shares of POINT Biopharma Global during the third quarter valued at approximately $2,319,000. Sigma Planning Corp raised its holdings in shares of POINT Biopharma Global by 32.4% during the second quarter. Sigma Planning Corp now owns 19,480 shares of the company's stock valued at $133,000 after acquiring an additional 4,765 shares during the period. Finally, Strs Ohio acquired a new stake in shares of POINT Biopharma Global during the second quarter valued at approximately $117,000. 72.77% of the stock is owned by institutional investors and hedge funds.

About POINT Biopharma Global

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POINT Biopharma Global Inc, a radiopharmaceutical company, focuses on the development and commercialization of 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.