Will Earnings Announcement Push Endocyte, Inc. (NASDAQ:ECYT) Over the Top?

Endocyte, Inc. (NASDAQ:ECYT)

Endocyte, Inc. (NASDAQ:ECYT), headquartered in West Lafayette, Indiana, will be announcing their Q3 20187 earnings after the close of the market on Monday, November 6, 2017. ACYT shares traded at less than half their monthly average volume on Friday as traders sat on the sidelines in anticipation of the news.

Endocyte, Inc. (NASDAQ:ECYT)

Endocyte, Inc. (NASDAQ:ECYT), is a biopharmaceutical company that develops therapies for the treatment of cancer and other serious diseases. Endocyte uses its proprietary drug conjugation technology to create therapies for personalized targeted therapies.  The company’s SMDCs actively target receptors that are over-expressed on diseased cells, relative to healthy cells.  This targeted approach is designed to enable the treatment of patients with highly active drugs at greater doses, delivered more frequently and over longer periods of time than would be possible with the untargeted drug alone.

ECYT Stock Review

At the beginning of October, ECYT stock jumped over 150% after the company announced the completion of an exclusive worldwide license of PSMA-617 from ABX GmbH. ABX GmbH is a German developer and manufacturer of chemicals for the nuclear medicine industry. The day after the announcement, ECYT stock hit a new 52-week high of $6.55 – well above their 52-week low of $1.17, which had been established less than 60 days earlier.

Since establishing that 52-week high, ECYT shares have retreated. The low for October was $4.14 and, three times since then, shares traded over $5, but then retreated below that psychologically important level as sellers stepped in.

Year-to-date ECYT shares are up over 96% but are down over the past month by 12%. Three firms follow Endocyte, Inc. (NASDAQ:ECYT). Two rate ECYT shares as a “Strong Buy”, while one rates the shares a “Hold”.

The last four quarterly earnings announcements from Endocyte, Inc. (NASDAQ:ECYT) have either met or beat analyst expectations. For Q3, 2017 analysts are forecasting a per share loss between (-$0.25) and (-$0.30).

Financial ratios for Endocyte, Inc. (NASDAQ:ECYT) appear very healthy. The biotech firm has a cash per share figure of $2.96. Published reports put their current ratio at a robust 22.8. A company’s current ratio is a comparison of current assets to current liabilities. It is calculated by dividing the company’s current assets by its current liabilities. Potential creditors use the current ratio to measure a company’s liquidity or ability to pay off short-term debts.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

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About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.

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