HC Wainwright Reiterates “Buy” Rating for Histogenics (HSGX)

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Histogenics (NASDAQ:HSGX)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a research note issued on Wednesday. They presently have a $2.00 price objective on the biotechnology company’s stock. HC Wainwright’s target price would indicate a potential upside of 181.69% from the stock’s current price.

The analysts wrote, “We maintain our Buy rating of HSGX and lower our 12-month price target to $2.00 per share, down from $3.50. We derive our price target based on a risk-adjusted net present value analysis of projected NeoCart revenues until 2027 assuming a 12% discount rate and a 3% terminal value. We derive an rNPV of $97M for NeoCart and add $9M in cash and cash equivalents to arrive at a 12-month price target of $1.99 per diluted share, which we round to $2.00. (1) clinical; (2) commercial; (3) partnership; (4) financial; and (5) legal and intellectual property.””

A number of other research firms have also commented on HSGX. Zacks Investment Research lowered Histogenics from a “buy” rating to a “hold” rating in a research report on Thursday, August 16th. Brookline Cap M reaffirmed a “buy” rating on shares of Histogenics in a research report on Wednesday, August 1st. Finally, ValuEngine raised Histogenics from a “sell” rating to a “hold” rating in a research report on Saturday, June 2nd. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $3.45.

NASDAQ HSGX opened at $0.71 on Wednesday. The stock has a market cap of $85.37 million, a PE ratio of -0.72 and a beta of 1.70. Histogenics has a one year low of $0.68 and a one year high of $3.35.

Histogenics (NASDAQ:HSGX) last released its quarterly earnings results on Thursday, August 9th. The biotechnology company reported ($0.13) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.23) by $0.10. research analysts forecast that Histogenics will post -0.71 EPS for the current year.

Several large investors have recently bought and sold shares of HSGX. BlackRock Inc. grew its holdings in shares of Histogenics by 72.0% during the second quarter. BlackRock Inc. now owns 54,753 shares of the biotechnology company’s stock worth $137,000 after buying an additional 22,927 shares in the last quarter. Deutsche Bank AG grew its holdings in shares of Histogenics by 71.1% during the fourth quarter. Deutsche Bank AG now owns 71,706 shares of the biotechnology company’s stock worth $146,000 after buying an additional 29,806 shares in the last quarter. Bradley Foster & Sargent Inc. CT bought a new position in shares of Histogenics during the first quarter worth about $199,000. DRW Securities LLC bought a new position in shares of Histogenics during the second quarter worth about $242,000. Finally, JPMorgan Chase & Co. bought a new position in shares of Histogenics during the first quarter worth about $320,000. Institutional investors and hedge funds own 45.89% of the company’s stock.

Histogenics Company Profile

Histogenics Corporation, a clinical-stage company, focuses on the development of restorative cell therapies in the United States. The company offers NeoCart, a tissue implant, which is in Phase III clinical trial to treat tissue injury in the field of orthopedics, specifically cartilage damage in the knee.

Further Reading: Leveraged Buyout (LBO)

Analyst Recommendations for Histogenics (NASDAQ:HSGX)

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