Brokers release forecast for Oyster Point Pharma, Inc. earnings in first quarter 2023 (NASDAQ:OYST)
Oyster Point Pharma, Inc. (NASDAQ:OYST) – Piper Sandler analysts released their first quarter 2023 earnings per share (EPS) estimates for Oyster Point Pharma in a note to investors on Tuesday, February 8. Piper Sandler analyst J. Catanzaro expects the company to earn ($1.25) per share for the quarter. Piper Sandler also released estimates for Oyster Point Pharma Q2 2023 earnings at ($1.23) EPS, Q3 2023 earnings at ($1.27) EPS, and Q4 2023 earnings at ($1.23) EPS. $25) EPS.
A number of other brokerages also weighed in on OYST. JPMorgan Chase & Co. downgraded Oyster Point Pharma from an “overweight” rating to a “neutral” rating and lowered its target price for the company from $30.00 to $23.00 in a Tuesday 9 research note. November. Zacks Investment Research upgraded Oyster Point Pharma from a “sell” rating to a “hold” rating in a Wednesday, Nov. 10, research report.
NASDAQ:OYST shares opened at $10.72 on Wednesday. Oyster Point Pharma has a 12-month low of $9.86 and a 12-month high of $25.89. The company has a market capitalization of $280.48 million, a PE ratio of -3.44 and a beta of 0.09. The company has a debt ratio of 0.30, a quick ratio of 12.51 and a current ratio of 12.51. The company has a fifty-day moving average of $13.80 and a 200-day moving average of $13.26.
Hedge funds have recently changed their positions in the stock. Royal Bank of Canada increased its position in Oyster Point Pharma by 162.9% in the third quarter. Royal Bank of Canada now owns 4,651 shares of the company worth $55,000 after purchasing an additional 2,882 shares during the period. Deutsche Bank AG increased its position in Oyster Point Pharma by 69.8% in the second quarter. Deutsche Bank AG now owns 6,762 shares of the company worth $116,000 after purchasing an additional 2,780 shares during the period. Susquehanna International Group LLP acquired a new stake in Oyster Point Pharma in the second quarter valued at approximately $180,000. HighTower Advisors LLC acquired a new stake in Oyster Point Pharma in the third quarter worth approximately $129,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Oyster Point Pharma during the third quarter worth approximately $133,000. Hedge funds and other institutional investors own 83.02% of the company’s shares.
About Oyster Point Pharma
Oyster Point Pharma, Inc., a clinical-stage biopharmaceutical company, is focused on the discovery, development and commercialization of pharmaceutical therapies to treat ocular surface diseases in the United States. The Company’s lead product candidate is OC-01, a nicotinic acetylcholine receptor agonist that has completed Phase III clinical trial for the treatment of signs and symptoms of dry eye disease.
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