Histogenics Corp. (HSGX) Stock Price Up 7.5% on Analyst Upgrade
Histogenics Corp. (NASDAQ:HSGX) shares shot up 7.5% during mid-day trading on Tuesday after Needham & Company raised their price target on the stock from $8.00 to $11.00. Needham & Company currently has a buy rating on the stock. Histogenics Corp. traded as high as $3.32 and last traded at $3.30, with a volume of 59,492 shares. The stock had previously closed at $3.07.
Several other research analysts have also recently issued reports on the company. William Blair cut Histogenics Corp. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, September 7th. Zacks Investment Research raised Histogenics Corp. from a “hold” rating to a “buy” rating and set a $3.25 price objective on the stock in a research note on Friday, August 26th. Finally, BTIG Research raised Histogenics Corp. from a “neutral” rating to a “buy” rating and set a $3.50 price objective on the stock in a research note on Thursday, August 11th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Histogenics Corp. currently has a consensus rating of “Buy” and a consensus price target of $7.65.
An institutional investor recently raised its position in Histogenics Corp. stock. Sabby Management LLC increased its position in Histogenics Corp. (NASDAQ:HSGX) by 28.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 150,630 shares of the company’s stock after buying an additional 32,965 shares during the period. Sabby Management LLC owned approximately 1.14% of Histogenics Corp. worth $345,000 at the end of the most recent reporting period. 38.63% of the stock is owned by institutional investors.
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The firm has a 50 day moving average price of $2.87 and a 200-day moving average price of $2.29. The company’s market capitalization is $43.66 million.
Histogenics Corp. (NASDAQ:HSGX) last released its quarterly earnings results on Thursday, August 11th. The company reported ($0.61) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.60) by $0.01. During the same quarter in the previous year, the firm earned ($0.58) EPS. Equities research analysts forecast that Histogenics Corp. will post ($2.11) EPS for the current year.
About Histogenics Corp.
Histogenics Corporation is a regenerative medicine company. The Company is focused on developing and commercializing products in the musculoskeletal segment of the marketplace. The Company’s product candidate, NeoCart utilizes various aspects of regenerative medicine platform to develop a tissue implant intended to treat tissue injury in the field of orthopedics, specifically cartilage damage in the knee.
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