Graybug Vision (NASDAQ:GRAY) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Graybug Vision (NASDAQ:GRAYGet Rating) from a sell rating to a hold rating in a report published on Friday, Zacks.com reports.

According to Zacks, “Graybug Vision Inc. is a clinical-stage biopharmaceutical company. It is focused on developing transformative medicines to treat chronic vision-threatening diseases of the retina and optic nerve. The company’s product candidate includes GB-102, GB-401 and GB-103 which are in clinical stage. Graybug Vision Inc. is headquartered in Redwood City, California. “

Other equities analysts also recently issued reports about the company. Cantor Fitzgerald restated a buy rating and issued a $4.00 price objective on shares of Graybug Vision in a research report on Friday, March 25th. Wells Fargo & Company assumed coverage on Graybug Vision in a research report on Monday, January 3rd. They issued an overweight rating on the stock. Finally, Wedbush reiterated a neutral rating and issued a $3.00 target price on shares of Graybug Vision in a research report on Thursday, March 31st. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $3.95.

NASDAQ:GRAY opened at $1.16 on Friday. The stock has a 50-day simple moving average of $1.26 and a two-hundred day simple moving average of $2.02. Graybug Vision has a 52-week low of $1.05 and a 52-week high of $7.06. The firm has a market capitalization of $24.78 million, a PE ratio of -0.69 and a beta of 3.02.

Graybug Vision (NASDAQ:GRAYGet Rating) last announced its quarterly earnings data on Thursday, March 10th. The company reported ($0.41) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.37) by ($0.04). On average, equities analysts anticipate that Graybug Vision will post -1.62 earnings per share for the current year.

Large investors have recently bought and sold shares of the stock. State Street Corp raised its position in Graybug Vision by 70.7% during the fourth quarter. State Street Corp now owns 35,073 shares of the company’s stock valued at $64,000 after purchasing an additional 14,525 shares during the period. GSA Capital Partners LLP purchased a new stake in Graybug Vision during the fourth quarter valued at approximately $158,000. Johnson & Johnson purchased a new stake in Graybug Vision during the third quarter valued at approximately $164,000. Finally, Millennium Management LLC purchased a new stake in Graybug Vision during the second quarter valued at approximately $126,000. Institutional investors own 52.30% of the company’s stock.

About Graybug Vision (Get Rating)

Graybug Vision, Inc, a clinical-stage biopharmaceutical company, develops medicines for the treatment of diseases of the retina and optic nerve. The company's lead product candidate is GB-102, an intravitreal injection of a microparticle depot formulation of sunitinib that is in Phase I/IIa and IIb clinical trials for the treatment of wet age-related macular degeneration, as well as in Phase IIa clinical trial to treat diabetic macular edema.

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