Zacks Investment Research upgraded shares of Harpoon Therapeutics (NASDAQ:HARP) from a hold rating to a buy rating in a research note released on Friday, Zacks.com reports. They currently have $18.00 target price on the stock.
According to Zacks, “Harpoon Therapeutics Inc. is a clinical-stage immunotherapy company developing a novel class of T cell engagers which harness the power of the body’s immune system to treat patients suffering from cancer and other diseases. Using its proprietary Tri-specific T cell Activating Construct(TM) platform, they are developing a pipeline of novel T cell engagers, focused on the treatment of solid tumors and hematologic malignancies. Harpoon Therapeutics Inc. is based in San Francisco, United States. “
HARP has been the topic of a number of other research reports. Wedbush lifted their price objective on shares of Harpoon Therapeutics from $26.00 to $36.00 and gave the company an outperform rating in a research note on Monday, June 1st. TheStreet upgraded shares of Harpoon Therapeutics from a d rating to a c- rating in a research note on Wednesday, May 20th. BidaskClub lowered shares of Harpoon Therapeutics from a hold rating to a sell rating in a research note on Wednesday, July 8th. HC Wainwright restated a buy rating on shares of Harpoon Therapeutics in a research note on Monday, June 1st. Finally, Citigroup lifted their price target on shares of Harpoon Therapeutics from $23.00 to $24.00 and gave the stock a buy rating in a research note on Tuesday, June 30th. One equities research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $28.63.
HARP opened at $16.24 on Friday. The firm’s 50 day moving average is $18.38 and its 200-day moving average is $15.07. Harpoon Therapeutics has a 52-week low of $10.27 and a 52-week high of $25.02. The company has a current ratio of 5.40, a quick ratio of 5.40 and a debt-to-equity ratio of 0.16.
Harpoon Therapeutics (NASDAQ:HARP) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.11). The firm had revenue of $3.30 million for the quarter, compared to analysts’ expectations of $7.58 million. Harpoon Therapeutics had a negative net margin of 681.41% and a negative return on equity of 53.62%. On average, sell-side analysts anticipate that Harpoon Therapeutics will post -2.02 EPS for the current year.
In other Harpoon Therapeutics news, insider Holger Wesche sold 10,000 shares of Harpoon Therapeutics stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $16.20, for a total value of $162,000.00. Following the completion of the transaction, the insider now owns 62,669 shares of the company’s stock, valued at $1,015,237.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Bioscience Plc Arix sold 12,064 shares of Harpoon Therapeutics stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $22.39, for a total transaction of $270,112.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,683 shares of company stock valued at $582,879. 34.90% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA boosted its holdings in Harpoon Therapeutics by 55.7% in the first quarter. BNP Paribas Arbitrage SA now owns 2,272 shares of the company’s stock worth $26,000 after purchasing an additional 813 shares during the period. Victory Capital Management Inc. boosted its holdings in Harpoon Therapeutics by 51.7% in the fourth quarter. Victory Capital Management Inc. now owns 2,662 shares of the company’s stock worth $35,000 after purchasing an additional 907 shares during the period. Citigroup Inc. boosted its holdings in Harpoon Therapeutics by 92.8% in the fourth quarter. Citigroup Inc. now owns 3,471 shares of the company’s stock worth $51,000 after purchasing an additional 1,671 shares during the period. Acadian Asset Management LLC acquired a new position in Harpoon Therapeutics in the first quarter worth $90,000. Finally, Bank of America Corp DE boosted its holdings in shares of Harpoon Therapeutics by 82.7% during the fourth quarter. Bank of America Corp DE now owns 7,917 shares of the company’s stock valued at $117,000 after acquiring an additional 3,583 shares during the period. 77.13% of the stock is owned by hedge funds and other institutional investors.
Harpoon Therapeutics Company Profile
Harpoon Therapeutics, Inc, a clinical-stage immunotherapy company, engages in the development of a novel class of T cell engagers that harness the power of the body's immune system to treat patients suffering from cancer and other diseases in the United States. The company's lead TriTAC product candidate is HPN424 that is in Phase I clinical trial for the treatment of metastatic castration-resistant prostate cancer.
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