HC Wainwright reaffirmed their buy rating on shares of Tyme Technologies (NASDAQ:TYME) in a research report sent to investors on Wednesday morning. HC Wainwright currently has a $10.00 price objective on the stock.
“We maintain our Buy rating of TYME and our 12-month price target of $9.50 per share. We derive our price target based on a net present value analysis of projected SM-88 revenues through FY2030 assuming a 12% discount rate and 2% terminal growth rate.”,” HC Wainwright’s analyst commented.
Several other research analysts have also recently issued reports on TYME. BidaskClub cut Tyme Technologies from a hold rating to a sell rating in a research report on Wednesday, July 18th. Canaccord Genuity set a $10.00 price objective on Tyme Technologies and gave the company a buy rating in a research report on Tuesday, July 31st. Finally, Zacks Investment Research raised Tyme Technologies from a hold rating to a buy rating and set a $2.75 price objective on the stock in a research report on Friday, August 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $7.44.
NASDAQ:TYME traded down $0.11 on Wednesday, hitting $2.02. The stock had a trading volume of 414,914 shares, compared to its average volume of 232,106. The stock has a market capitalization of $229.70 million, a price-to-earnings ratio of -9.62 and a beta of 0.57. Tyme Technologies has a 52-week low of $2.01 and a 52-week high of $8.30.
Several hedge funds have recently bought and sold shares of the company. Rhumbline Advisers purchased a new position in shares of Tyme Technologies during the 2nd quarter valued at about $110,000. BlackRock Inc. lifted its position in shares of Tyme Technologies by 3.6% during the 3rd quarter. BlackRock Inc. now owns 2,065,741 shares of the company’s stock valued at $5,744,000 after buying an additional 71,188 shares in the last quarter. Perkins Capital Management Inc. lifted its position in shares of Tyme Technologies by 330.0% during the 2nd quarter. Perkins Capital Management Inc. now owns 101,050 shares of the company’s stock valued at $319,000 after buying an additional 77,550 shares in the last quarter. Schwab Charles Investment Management Inc. purchased a new position in shares of Tyme Technologies during the 2nd quarter valued at about $248,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Tyme Technologies during the 2nd quarter valued at about $267,000. 11.14% of the stock is currently owned by hedge funds and other institutional investors.
Tyme Technologies Company Profile
Tyme Technologies, Inc, a clinical-stage biotechnology company, develops novel cancer therapeutics. It is developing SM-88, a combination therapy based on dysfunctional metyrosine derivatives in Phase II development for metastatic pancreatic cancer and biomarker-recurrent prostate cancer. The company was founded in 2011 and is headquartered in New York, New York.
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