Shares of Eleven Biotherapeutics Inc (NASDAQ: EBIO) popped 68.54% to $1.50 after the company announced their strategic update and quarterly financial results.
Stock prices advanced $0.61 per share while volume surged to 14.56 million shares compared to the average daily volume of 842,081 shares. With those gains, Eleven Biotherapeutics Inc (NASDAQ: EBIO) reached a market cap of $29.53 million.
Based on its latest earnings report, the company was able to generate an income of $33.50 million on revenues of $1.00 million for the past twelve months. The company reported $0.53 earnings per share for the previous quarter. The year-to-date performance of the company is at 75.58% with a gain of 119.40% in the last week and 63.33% in the past three months. The firm’s earnings before interest, tax, depreciation and amortization (EBITDA) remained at -37.48M million for the past 12 months.
Zacks Investment Research reported that an analyst watching this stock closely gave it a strong buy recommendation. Analysts are now looking at a target of $1 for the company’s share price and the median estimate represents a 75.75% gain from the last price of $0.57 from CNNMoney, with Zacks giving Eleven Biotherapeutics Inc (NASDAQ: EBIO) an industry rank of 113 out of 265 based on ratings given to related companies.
Eleven Biotherapeutics Inc (NASDAQ: EBIO) is a clinical-stage biopharmaceutical company that engages in the discovery and development of protein therapeutics to treat eye diseases primarily in the United States. Its proprietary protein engineering platform called AMP-Rx applies to the discovery and development of protein therapeutics to treat eye diseases. In addition, the company also designs, engineers and generates a pipeline of protein therapeutic candidates that target cytokines, which are central to diseases of the eye.
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