The Spectranetics PT Raised to $29.00 (SPNC)
Stock analysts at Canaccord Genuity boosted their price objective on shares of The Spectranetics (NASDAQ:SPNC) from $27.00 to $29.00 in a report issued on Monday. The firm currently has a “buy” rating on the stock. Canaccord Genuity’s target price points to a potential upside of 15.95% from the stock’s previous close.
The Spectranetics (NASDAQ:SPNC) opened at 24.64 on Monday. The Spectranetics has a 52 week low of $15.52 and a 52 week high of $31.94. The stock’s 50-day moving average is $23.05 and its 200-day moving average is $25.13. The company’s market cap is $1.023 billion.
The Spectranetics (NASDAQ:SPNC) last released its earnings data on Wednesday, April 23rd. The company reported ($0.14) earnings per share for the quarter, meeting the analysts’ consensus estimate of ($0.14). The company had revenue of $39.60 million for the quarter, compared to the consensus estimate of $39.91 million. During the same quarter last year, the company posted ($0.03) earnings per share. The Spectranetics’s revenue was up 5.0% compared to the same quarter last year. On average, analysts predict that The Spectranetics will post $-0.28 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on SPNC. Analysts at CRT Capital reiterated a “buy” rating on shares of The Spectranetics in a research note on Wednesday, May 28th. They now have a $37.00 price target on the stock, up previously from $34.00. Analysts at Zacks downgraded shares of The Spectranetics from a “neutral” rating to an “underperform” rating in a research note on Wednesday, April 30th. They now have a $20.10 price target on the stock. Three analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. The Spectranetics currently has a consensus rating of “Hold” and a consensus target price of $26.12.
The Spectranetics Corporation develops, manufactures, markets and distributes single-use medical devices used in minimally invasive procedures within the cardiovascular system.
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