NasdaqGS:ISEE

Stock Analysis Report

Executive Summary

IVERIC bio, Inc., a biopharmaceutical company, develops novel therapies to treat ophthalmic diseases with a focus on age-related and orphan retinal diseases.

Rewards

PE ratio (4.5x) is below the US market (18.9x)

Became profitable this year

Risk Analysis

Earnings are forecast to decline by an average of -25.5% per year for the next 3 years

Makes less than USD$1m in revenue ($0)

Highly volatile share price over past 3 months

Large one-off items impacting financial results

+ 1 more risk


Snowflake Analysis

Flawless balance sheet and fair value.

Share Price & News

How has IVERIC bio's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: ISEE's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-0.8%

ISEE

1.1%

US Biotechs

1.7%

US Market


1 Year Return

406.0%

ISEE

11.3%

US Biotechs

23.6%

US Market

Return vs Industry: ISEE exceeded the US Biotechs industry which returned 10.9% over the past year.

Return vs Market: ISEE exceeded the US Market which returned 24.7% over the past year.


Shareholder returns

ISEEIndustryMarket
7 Day-0.8%1.1%1.7%
30 Day-9.8%0.2%3.5%
90 Day617.9%19.5%11.7%
1 Year406.0%406.0%12.3%11.3%26.2%23.6%
3 Year50.7%50.7%29.2%24.9%53.2%43.3%
5 Year-88.1%-88.1%3.7%-1.2%75.5%56.1%

Price Volatility Vs. Market

How volatile is IVERIC bio's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is IVERIC bio undervalued compared to its fair value and its price relative to the market?

4.44x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate ISEE's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate ISEE's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: ISEE is good value based on its PE Ratio (4.5x) compared to the Biotechs industry average (20.1x).

PE vs Market: ISEE is good value based on its PE Ratio (4.5x) compared to the US market (18.9x).


Price to Earnings Growth Ratio

PEG Ratio: ISEE's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: ISEE is good value based on its PB Ratio (3.2x) compared to the US Biotechs industry average (3.2x).


Next Steps

Future Growth

How is IVERIC bio forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

-25.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ISEE's earnings are forecast to decline over the next 3 years (-25.5% per year).

Earnings vs Market: ISEE's earnings are forecast to decline over the next 3 years (-25.5% per year).

High Growth Earnings: ISEE's earnings are forecast to decline over the next 3 years.

Revenue vs Market: ISEE is forecast to have no revenue next year.

High Growth Revenue: ISEE is forecast to have no revenue next year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if ISEE's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has IVERIC bio performed over the past 5 years?

42.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ISEE has a large one-off gain of $118.1M impacting its September 30 2019 financial results.

Growing Profit Margin: ISEE became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: ISEE has become profitable over the past 5 years, growing earnings by 42.6% per year.

Accelerating Growth: ISEE has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: ISEE has become profitable in the last year, making it difficult to compare its past year earnings growth to the Biotechs industry (103.3%).


Return on Equity

High ROE: ISEE's Return on Equity (70.1%) is considered outstanding.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is IVERIC bio's financial position?


Financial Position Analysis

Short Term Liabilities: ISEE's short term assets ($97.0M) exceed its short term liabilities ($9.4M).

Long Term Liabilities: ISEE has no long term liabilities.


Debt to Equity History and Analysis

Debt Level: ISEE is debt free.

Reducing Debt: ISEE has no debt compared to 5 years ago when its debt to equity ratio was 47.8%.

Debt Coverage: ISEE has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: ISEE has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet

Inventory Level: ISEE has a low level of unsold assets or inventory.

Debt Coverage by Assets: ISEE's debt is not covered by short term assets (assets are -395.8x debt).


Next Steps

Dividend

What is IVERIC bio's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%1.4%markettop25%3.7%industryaverage2.1%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate ISEE's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate ISEE's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if ISEE's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if ISEE's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of ISEE's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

What is the CEO of IVERIC bio's salary, the management and board of directors tenure and is there insider trading?

2.6yrs

Average management tenure


CEO

Glenn Sblendorio (63yo)

2.5yrs

Tenure

US$1,411,380

Compensation

Mr. Glenn P. Sblendorio, M.B.A., has been the President of Ophthotech Corporation since February 1, 2017 and has been its Chief Executive Officer since July 1, 2017. Mr. Sblendorio served as Chief Financia ...


CEO Compensation Analysis

Compensation vs Market: Glenn's total compensation ($USD1.41M) is about average for companies of similar size in the US market ($USD1.70M).

Compensation vs Earnings: Glenn's compensation has been consistent with company performance over the past year.


Management Age and Tenure

2.6yrs

Average Tenure

58yo

Average Age

Experienced Management: ISEE's management team is considered experienced (2.9 years average tenure).


Board Age and Tenure

2.3yrs

Average Tenure

63yo

Average Age

Experienced Board: ISEE's board of directors are not considered experienced ( 2.3 years average tenure), which suggests a new board.


Insider Trading

Insider Buying: ISEE insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyUS$250,00011 Dec 19
Glenn Sblendorio
EntityIndividual
Role
Chief Executive Officer
CEO, President & Director
Shares62,500
Max PriceUS$4.00
BuyUS$46,85118 Nov 19
Glenn Sblendorio
EntityIndividual
Role
Chief Executive Officer
CEO, President & Director
Shares15,000
Max PriceUS$3.12
BuyUS$37,00013 May 19
Glenn Sblendorio
EntityIndividual
Role
Chief Executive Officer
CEO, President & Director
Shares25,000
Max PriceUS$1.48

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 13.5%.


Management Team

  • Glenn Sblendorio (63yo)

    CEO, President & Director

    • Tenure: 2.5yrs
    • Compensation: US$1.41m
  • David Guyer (59yo)

    Executive Chairman

    • Tenure: 13yrs
    • Compensation: US$1.01m
  • Samir Patel (58yo)

    Co-Founder and Consultant

    • Tenure: 13yrs
  • Kathy Galante

    Vice President of Investor Relations & Corporate Communications

    • Evelyn Harrison

      Chief Clinical Operations Officer

      • Tenure: 4yrs
      • Compensation: US$411.67k
    • Keith Westby (44yo)

      Senior VP & COO

      • Tenure: 3yrs
      • Compensation: US$674.13k
    • Amy Sheehan

      Senior VP & Chief Human Resources Officer

      • Tenure: 2yrs
    • Dave Carroll (53yo)

      Senior VP

      • Tenure: 2.8yrs
      • Compensation: US$714.44k
    • Todd Anderman

      VP, General Counsel & Corporate Secretary

      • Tenure: 2yrs
    • Abraham Scaria

      Chief Scientific Officer

      • Tenure: 0.3yrs

    Board Members

    • Glenn Sblendorio (63yo)

      CEO, President & Director

      • Tenure: 2.5yrs
      • Compensation: US$1.41m
    • Axel Bolte (47yo)

      Independent Director

      • Tenure: 12.4yrs
      • Compensation: US$90.75k
    • Adrienne Graves (66yo)

      Lead Independent Director

      • Tenure: 0.3yrs
      • Compensation: US$46.58k
    • David Guyer (59yo)

      Executive Chairman

      • Tenure: 13yrs
      • Compensation: US$1.01m
    • Cal Roberts (67yo)

      Independent Director

      • Tenure: 1yrs
    • David Cheresh

      Member of Translational Scientific Advisory Board

      • Jane Pritchett Henderson (53yo)

        Independent Director

        • Tenure: 2yrs
        • Compensation: US$161.63k
      • Rakesh Jain (69yo)

        Member of Translational Scientific Advisory Board

        Company Information

        IVERIC bio, Inc.'s company bio, employee growth, exchange listings and data sources


        Key Information

        • Name: IVERIC bio, Inc.
        • Ticker: ISEE
        • Exchange: NasdaqGS
        • Founded: 2007
        • Industry: Biotechnology
        • Sector: Pharmaceuticals & Biotech
        • Market Cap: US$324.645m
        • Shares outstanding: 47.88m
        • Website: https://ivericbio.com

        Number of Employees


        Location

        • IVERIC bio, Inc.
        • One Penn Plaza
        • 19th Floor
        • New York
        • New York
        • 10119
        • United States

        Listings

        TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
        ISEENasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDSep 2013
        O2TDB (Deutsche Boerse AG)YesCommon StockDEEURSep 2013

        Biography

        IVERIC bio, Inc., a biopharmaceutical company, develops novel therapies to treat ophthalmic diseases with a focus on age-related and orphan retinal diseases. The company is developing Zimura, an inhibitor of complement factor C5, which is in Phase IIb clinical trials for the treatment of geographic atrophy (GA), a late-stage form of dry age-related macular degeneration (AMD) characterized by retinal cell death and degeneration of tissue in the central portion of the retina known as the macula; and autosomal recessive Stargardt disease (STGD1), which is an orphan inherited retinal disease (IRD). It is also developing High temperature requirement A serine peptidase 1 protein (HtrA1) inhibitors for the treatment of GA secondary to dry AMD and other age-related retinal diseases, such as wet AMD and idiopathic polypoidal choroidal vasculopathy. The company has a license agreement with the University of Florida Research Foundation (UFRF) and the University of Pennsylvania for the development and commercialization of novel adeno-associated virus (AAV) gene therapy product candidate for the treatment of rhodopsin-mediated autosomal dominant retinitis pigmentosa (RHO-adRP); and Best disease and other bestrophinopathies. It also has a research agreement with the University of Massachusetts Medical School to utilize the minigene therapy approach to create AAV gene therapy product candidates targeting Leber Congenital Amaurosis type 10 and STGD1; and to evaluate various AAV gene delivery methods for potential application in the eye. The company was formerly known as Ophthotech Corporation and changed its name to IVERIC bio, Inc. in April 2019. IVERIC bio, Inc. was founded in 2007 and is headquartered in New York, New York. 


        Company Analysis and Financial Data Status

        All financial data provided by Standard & Poor's Capital IQ.
        DataLast Updated (UTC time)
        Company Analysis2020/01/21 00:49
        End of Day Share Price2020/01/17 00:00
        Earnings2019/09/30
        Annual Earnings2018/12/31


        Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.