HC Wainwright Begins Coverage on Tyme Technologies (NASDAQ:TYME)

HC Wainwright began coverage on shares of Tyme Technologies (NASDAQ:TYME) in a research report report published on Monday, AnalystRatings.com reports. The brokerage issued a buy rating 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 wrote.

Separately, Zacks Investment Research lowered Tyme Technologies from a buy rating to a hold rating in a research report on Wednesday, April 17th.

Shares of NASDAQ:TYME opened at $1.00 on Monday. The firm has a market cap of $111.95 million, a P/E ratio of -3.13 and a beta of 0.40. Tyme Technologies has a 12-month low of $0.92 and a 12-month high of $4.64. The business has a fifty day simple moving average of $1.18 and a 200 day simple moving average of $1.68.

Tyme Technologies (NASDAQ:TYME) last announced its earnings results on Thursday, August 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.02. On average, equities analysts anticipate that Tyme Technologies will post -0.34 earnings per share for the current fiscal year.

In other news, major shareholder Michael Demurjian sold 50,000 shares of Tyme Technologies stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $1.18, for a total value of $59,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David Carberry acquired 30,000 shares of the stock in a transaction dated Friday, June 14th. The stock was acquired at an average cost of $1.07 per share, with a total value of $32,100.00. The disclosure for this purchase can be found here. Over the last three months, insiders bought 60,000 shares of company stock valued at $63,450 and sold 140,000 shares valued at $156,900. Company insiders own 27.17% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Legal & General Group Plc raised its position in shares of Tyme Technologies by 157.0% in the 4th quarter. Legal & General Group Plc now owns 16,127 shares of the company’s stock worth $60,000 after acquiring an additional 9,853 shares in the last quarter. Amalgamated Bank bought a new stake in Tyme Technologies in the 4th quarter valued at about $47,000. SG Americas Securities LLC bought a new stake in Tyme Technologies in the 1st quarter valued at about $27,000. Deutsche Bank AG increased its position in Tyme Technologies by 12.8% in the 4th quarter. Deutsche Bank AG now owns 136,105 shares of the company’s stock valued at $501,000 after buying an additional 15,483 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Tyme Technologies by 5.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 306,199 shares of the company’s stock valued at $374,000 after buying an additional 17,173 shares in the last quarter. 19.58% of the stock is owned by hedge funds and other institutional investors.

About Tyme Technologies

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.

See Also: How dollar cost averaging works

Receive News & Ratings for Tyme Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tyme Technologies and related companies with MarketBeat.com's FREE daily email newsletter.