BioVie (NASDAQ:BIVI) Receives New Coverage from Analysts at ThinkEquity

ThinkEquity initiated coverage on shares of BioVie (NASDAQ:BIVI) in a report published on Monday, Benzinga reports. The firm issued a buy rating and a $3.00 price objective on the stock.

BioVie Stock Performance

BioVie stock opened at $0.42 on Monday. BioVie has a fifty-two week low of $0.40 and a fifty-two week high of $5.82. The stock has a market cap of $25.48 million, a PE ratio of -0.44 and a beta of 0.74. The firm’s 50-day simple moving average is $0.47 and its 200 day simple moving average is $0.79.

BioVie (NASDAQ:BIVI) last released its quarterly earnings results on Tuesday, May 14th. The company reported ($0.20) earnings per share for the quarter.

Institutional Inflows and Outflows

An institutional investor recently raised its position in BioVie stock. Sheaff Brock Investment Advisors LLC raised its stake in BioVie Inc. (NASDAQ:BIVI) by 276.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,400 shares of the company’s stock after acquiring an additional 37,762 shares during the quarter. Sheaff Brock Investment Advisors LLC owned approximately 0.13% of BioVie worth $27,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 4.59% of the company’s stock.

BioVie Company Profile

BioVie Inc, a clinical stage biopharmaceutical company, engages in the discovery, development, and commercialization of drugs for the treatment of chronic debilitating conditions in the United States. Its products pipeline includes BIV201, which completed Phase IIa clinical trial for the treatment of ascites caused due to chronic liver cirrhosis; and NE3107, a potentially selective inhibitor of inflammatory extracellular single-regulated kinase, which is in Phase III clinical trial for the treatment of patients with mild to moderate Alzheimer's disease, as well as Phase 2 clinical trial for the treatment of Parkinson's disease.