Aytu Bioscience (AYTU) Shares Down 18.9% After Earnings Miss

Aytu Bioscience Inc (NASDAQ:AYTU) shares fell 18.9% during trading on Thursday after the company announced weaker than expected quarterly earnings. The stock traded as low as $1.01 and last traded at $1.07. 1,154,445 shares changed hands during trading, an increase of 175% from the average session volume of 420,390 shares. The stock had previously closed at $1.32.

The company reported ($0.72) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by ($0.37). Aytu Bioscience had a negative net margin of 217.45% and a negative return on equity of 110.91%. The firm had revenue of $1.80 million for the quarter, compared to the consensus estimate of $1.58 million.

Separately, Northland Securities assumed coverage on Aytu Bioscience in a research note on Monday, October 22nd. They set an “outperform” rating and a $10.00 price objective for the company.

The company has a market cap of $8.89 million, a PE ratio of -0.04 and a beta of 4.96.

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About Aytu Bioscience (NASDAQ:AYTU)

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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