Oyster Point Pharma (NASDAQ:OYST) issued its quarterly earnings results on Tuesday, December 3rd. The company reported ($8.10) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.51) by ($7.59), Fidelity Earnings reports.
Shares of OYST traded down $1.57 during trading hours on Friday, hitting $24.58. The stock had a trading volume of 96,595 shares, compared to its average volume of 123,145. The business’s 50 day moving average is $17.15. Oyster Point Pharma has a 1-year low of $13.26 and a 1-year high of $27.73.
OYST has been the subject of several research reports. Cowen initiated coverage on Oyster Point Pharma in a research note on Monday, November 25th. They issued an “outperform” rating and a $40.00 target price for the company. JPMorgan Chase & Co. initiated coverage on Oyster Point Pharma in a research note on Monday, November 25th. They issued an “overweight” rating and a $26.00 target price for the company. Finally, Piper Jaffray Companies initiated coverage on Oyster Point Pharma in a research note on Monday, November 25th. They issued an “overweight” rating and a $35.00 target price for the company.
In other Oyster Point Pharma news, Director Clare Ozawa purchased 562,500 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were acquired at an average price of $17.02 per share, with a total value of $9,573,750.00. Also, major shareholder Healthcare Strategic Growt Kkr purchased 155,000 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was acquired at an average cost of $17.02 per share, for a total transaction of $2,638,100.00. Over the last 90 days, insiders bought 787,800 shares of company stock valued at $12,438,256.
About Oyster Point Pharma
Oyster Point Pharma, Inc, a clinical stage biopharmaceutical company, focuses on the discovery, development, and commercialization of pharmaceutical therapies to treat ocular surface diseases in the United States. It is involved in developing OC-01, a nicotinic acetylcholine receptor agonist that is in Phase IIb clinical trial to treat the signs and symptoms of dry eye disease, as well as Phase III clinical trial for the neurotrophic keratitis.
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