Y-mAbs Therapeutics (NASDAQ:YMAB) Price Target Cut to $7.00 by Analysts at Morgan Stanley

Y-mAbs Therapeutics (NASDAQ:YMAB) had its target price lowered by Morgan Stanley from $11.00 to $7.00 in a report released on Wednesday,Benzinga reports. The firm currently has an underweight rating on the stock.

A number of other brokerages have also recently weighed in on YMAB. Brookline Capital Management started coverage on Y-mAbs Therapeutics in a research report on Thursday, December 5th. They issued a “buy” rating and a $17.00 price target for the company. HC Wainwright reiterated a “buy” rating and set a $22.00 price objective on shares of Y-mAbs Therapeutics in a research report on Monday, January 13th. Wedbush reiterated an “outperform” rating and set a $23.00 price objective on shares of Y-mAbs Therapeutics in a research report on Monday, March 3rd. Finally, Oppenheimer assumed coverage on Y-mAbs Therapeutics in a research report on Monday, November 18th. They set an “outperform” rating and a $23.00 price objective for the company. One analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $19.30.

Y-mAbs Therapeutics Stock Down 1.7 %

Shares of YMAB stock opened at $5.16 on Wednesday. Y-mAbs Therapeutics has a fifty-two week low of $4.25 and a fifty-two week high of $18.10. The stock has a market cap of $231.11 million, a P/E ratio of -9.56 and a beta of 0.65. The business has a fifty day simple moving average of $6.34 and a 200-day simple moving average of $10.54.

Y-mAbs Therapeutics (NASDAQ:YMAB) last announced its quarterly earnings results on Tuesday, March 4th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). Y-mAbs Therapeutics had a negative net margin of 28.22% and a negative return on equity of 24.61%. The firm had revenue of $26.50 million during the quarter, compared to analysts’ expectations of $26.70 million. During the same quarter in the prior year, the business earned ($0.02) EPS. On average, sell-side analysts anticipate that Y-mAbs Therapeutics will post -0.65 earnings per share for the current year.

Institutional Trading of Y-mAbs Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Y-mAbs Therapeutics in the 3rd quarter worth about $44,000. KLP Kapitalforvaltning AS acquired a new position in shares of Y-mAbs Therapeutics in the 4th quarter valued at about $46,000. ProShare Advisors LLC acquired a new position in shares of Y-mAbs Therapeutics in the 4th quarter valued at about $99,000. Intech Investment Management LLC acquired a new position in shares of Y-mAbs Therapeutics in the 3rd quarter valued at about $133,000. Finally, Wells Fargo & Company MN lifted its stake in shares of Y-mAbs Therapeutics by 54.1% in the 4th quarter. Wells Fargo & Company MN now owns 17,458 shares of the company’s stock valued at $137,000 after purchasing an additional 6,131 shares in the last quarter. 70.85% of the stock is owned by institutional investors and hedge funds.

Y-mAbs Therapeutics Company Profile

Y-mAbs Therapeutics, Inc, a commercial-stage biopharmaceutical company, focuses on the development and commercialization of antibody based therapeutic products for the treatment of cancer in the United States and internationally. It offers DANYELZA, a monoclonal antibody in combination with granulocyte-macrophage colony-stimulating factor for the treatment of pediatric patients with relapsed or refractory high-risk neuroblastoma in the bone or bone marrow.