Brokerages Set $3.50 Price Target for Harvard Bioscience, Inc. (NASDAQ:HBIO)
Shares of Harvard Bioscience, Inc. (NASDAQ:HBIO) have received an average broker rating score of 2.00 (Buy) from the two brokers that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating and one has given a strong buy rating to the company.
Analysts have set a 12 month consensus target price of $3.50 for the company and are anticipating that the company will post $0.08 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Harvard Bioscience an industry rank of 61 out of 255 based on the ratings given to related companies.
HBIO has been the topic of several research reports. Zacks Investment Research raised shares of Harvard Bioscience from a “hold” rating to a “buy” rating and set a $3.00 price target on the stock in a research note on Tuesday, November 12th. ValuEngine downgraded shares of Harvard Bioscience from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd.
Several institutional investors and hedge funds have recently made changes to their positions in HBIO. Tower Research Capital LLC TRC increased its position in shares of Harvard Bioscience by 401.7% during the second quarter. Tower Research Capital LLC TRC now owns 13,752 shares of the medical instruments supplier’s stock valued at $28,000 after acquiring an additional 11,011 shares during the last quarter. Susquehanna International Group LLP acquired a new stake in shares of Harvard Bioscience during the second quarter valued at about $34,000. Jefferies Group LLC acquired a new stake in shares of Harvard Bioscience during the second quarter valued at about $36,000. Pasadena Private Wealth LLC acquired a new stake in shares of Harvard Bioscience during the third quarter valued at about $78,000. Finally, Citadel Advisors LLC acquired a new stake in shares of Harvard Bioscience during the second quarter valued at about $118,000. Institutional investors and hedge funds own 60.85% of the company’s stock.
Shares of NASDAQ:HBIO traded up $0.05 during midday trading on Friday, hitting $3.18. The company’s stock had a trading volume of 3,938 shares, compared to its average volume of 113,296. The business’s 50 day simple moving average is $2.85 and its 200 day simple moving average is $2.52. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.31 and a current ratio of 2.41. The company has a market cap of $112.29 million, a P/E ratio of 21.07 and a beta of 1.49. Harvard Bioscience has a 12-month low of $1.51 and a 12-month high of $4.66.
About Harvard Bioscience
Harvard Bioscience, Inc provides scientific instruments, systems, software, and services used in life science basic research, drug discovery, and clinical and environmental testing. The company offers physiology, cell, and molecular instruments, such as traditional syringe pump and peristaltic pump products, as well as a range of instruments and accessories for tissue, organ, and animal based lab research under the Harvard Apparatus, CMA Microdialysis, Panlab, Coulbourn, and Hugo Sachs brands; and spectrophotometers, microplate readers, amino acid analyzers, gel electrophoresis equipment, sample preparation plates and columns, and electroporation and electrofusion instruments under the Biochrom, BioDrop, Hoefer, Scie-plas, QuikPrep, and BTX brands.
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