Oyster Point Pharma (NASDAQ:OYST) Hits New 12-Month High at $31.79

Oyster Point Pharma (NASDAQ:OYST)’s stock price hit a new 52-week high on Monday . The company traded as high as $31.79 and last traded at $27.55, with a volume of 2032 shares trading hands. The stock had previously closed at $26.78.

A number of analysts recently commented on the stock. JPMorgan Chase & Co. started coverage on shares of Oyster Point Pharma in a research report on Monday, November 25th. They issued an “overweight” rating and a $26.00 price objective for the company. Cowen started coverage on shares of Oyster Point Pharma in a report on Monday, November 25th. They set an “outperform” rating and a $40.00 target price for the company. Finally, Piper Jaffray Companies assumed coverage on Oyster Point Pharma in a report on Monday, November 25th. They issued an “overweight” rating and a $35.00 price objective for the company.

The company has a 50-day moving average of $20.21.

Oyster Point Pharma (NASDAQ:OYST) last released its earnings results on Tuesday, December 3rd. The company reported ($8.10) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($7.59). On average, sell-side analysts expect that Oyster Point Pharma will post -1.79 EPS for the current year.

In other Oyster Point Pharma news, Director Clare Ozawa bought 562,500 shares of Oyster Point Pharma stock in a transaction dated Monday, November 4th. The stock was bought at an average cost of $17.02 per share, for a total transaction of $9,573,750.00. Also, insider John Snisarenko bought 3,000 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were acquired at an average cost of $17.02 per share, for a total transaction of $51,060.00. In the last quarter, insiders acquired 787,800 shares of company stock valued at $12,438,256.

About Oyster Point Pharma (NASDAQ:OYST)

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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