Northland Securities reiterated their buy rating on shares of Aytu Bioscience (NASDAQ:AYTU) in a research note released on Tuesday morning, AnalystRatings.com reports. Northland Securities currently has a $10.00 price objective on the stock.
“We note that total sales posted a 291% on a Y/Y gain and rose 33% sequentially. Total sales are comprised of Natesto, ZolpiMist (zolpidem tartrate oral spray for insomnia), Tuzistra XR (codeine polistirex + chlorpheniramine polistirex ER for cough prevention and treatment), and MiOXSYS (male infertility oxidative diagnostic device). Gross profit totaled $1.76MM, equating to a 39% sequential gain; the latter reflecting product sales growth augmented by gross-to-net improvements. Operating expenses totaled $6.67MM in the 3Q19 period, comparing favorably to our forecast of $7.00MM. The net loss for 3Q19 tracked $4.6MM with EPS of ($0.50), vs. our forecast of $5.2MM and ($0.61), respectively. $15MM: AYTU ended the 3Q period with cash of $15MM, with $3.3MM cash used to fund operations in the 3/31/19 period.”,” the firm’s analyst commented.
A number of other equities research analysts have also recently weighed in on AYTU. Zacks Investment Research upgraded shares of Aytu Bioscience from a hold rating to a buy rating and set a $1.50 price target for the company in a research report on Monday, March 11th. ValuEngine upgraded shares of Aytu Bioscience from a hold rating to a buy rating in a research report on Thursday, April 4th.
Shares of AYTU opened at $1.90 on Tuesday. Aytu Bioscience has a 1-year low of $0.68 and a 1-year high of $10.38. The stock has a market cap of $23.66 million, a price-to-earnings ratio of -0.07 and a beta of 5.29. The company has a quick ratio of 4.37, a current ratio of 4.10 and a debt-to-equity ratio of 0.32.
Hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC acquired a new position in shares of Aytu Bioscience in the first quarter valued at approximately $30,000. Wexford Capital LP acquired a new position in shares of Aytu Bioscience in the fourth quarter valued at approximately $71,000. Acadian Asset Management LLC grew its holdings in shares of Aytu Bioscience by 195.1% in the first quarter. Acadian Asset Management LLC now owns 43,178 shares of the company’s stock valued at $72,000 after purchasing an additional 28,547 shares in the last quarter. Searle & CO. acquired a new position in shares of Aytu Bioscience in the first quarter valued at approximately $25,000. Finally, Geode Capital Management LLC acquired a new position in shares of Aytu Bioscience in the fourth quarter valued at approximately $43,000. Hedge funds and other institutional investors own 8.79% of the company’s stock.
About Aytu Bioscience
Aytu BioScience, Inc, a specialty healthcare company, focuses on developing and commercializing novel products in the field of hypogonadism (low testosterone), insomnia, and male infertility in the United States and internationally. The company markets Natesto, a nasal gel for the treatment of hypogonadism (low testosterone) in men; and ZolpiMist, an oral spray for the treatment of insomnia.
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