Hemab Therapeutics (NASDAQ:COAG) Raised to Strong-Buy at Rodman & Renshaw

Key Points

• Rodman & Renshaw upgraded Hemab Therapeutics to “strong buy,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $52.17.
• COAG shares opened at $29.80, well below the 50-day moving average of $42.06 and its 12-month high of $55.42. The company also reported a quarterly loss of $0.80 per share, missing estimates by $0.17.
• Several hedge funds initiated positions in the second quarter, including Braidwell LP with an approximately $5.9 million stake, while Hemab continues developing HMB-001 for serious bleeding disorders.

Hemab Therapeutics (NASDAQ:COAG - Get Free Report) was upgraded by research analysts at Rodman & Renshaw to a "strong-buy" rating in a research note issued to investors on Monday, Zacks reports.

Other equities research analysts have also issued reports about the stock. Weiss Ratings lowered shares of Hemab Therapeutics from a "sell (d+)" rating to a "sell (d)" rating in a report on Friday, September 25th. Jefferies Financial Group upped their target price on shares of Hemab Therapeutics from $39.00 to $47.00 and gave the stock a "buy" rating in a research note on Monday, July 13th. Wedbush increased their target price on Hemab Therapeutics from $55.00 to $64.00 and gave the stock an "outperform" rating in a report on Wednesday, August 12th. Finally, HC Wainwright increased their target price on Hemab Therapeutics from $52.00 to $60.00 and gave the stock a "buy" rating in a report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Hemab Therapeutics presently has an average rating of "Moderate Buy" and a consensus target price of $52.17.

Hemab Therapeutics Stock Performance

Shares of Hemab Therapeutics stock opened at $29.80 on Monday. Hemab Therapeutics has a 12 month low of $23.00 and a 12 month high of $55.42. The business's fifty day simple moving average is $42.06.

Hemab Therapeutics (NASDAQ:COAG - Get Free Report) last posted its earnings results on Tuesday, August 11th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.63) by ($0.17). On average, analysts expect that Hemab Therapeutics will post -3.09 EPS for the current year.

Hedge Funds Weigh In On Hemab Therapeutics

Several hedge funds have recently made changes to their positions in COAG. Squarepoint Ops LLC acquired a new stake in shares of Hemab Therapeutics in the second quarter valued at approximately $230,000. The Manufacturers Life Insurance Company acquired a new position in Hemab Therapeutics during the second quarter worth $688,000. Opaleye Management Inc. acquired a new position in Hemab Therapeutics during the second quarter worth $1,750,000. State Street Corp acquired a new position in Hemab Therapeutics during the second quarter worth $2,825,000. Finally, Braidwell LP bought a new position in Hemab Therapeutics in the second quarter valued at $5,877,000.

About Hemab Therapeutics

Hemab Therapeutics NASDAQ: COAG is a clinical-stage biopharmaceutical company developing treatments for serious and potentially life-threatening bleeding disorders. The company focuses on rare conditions for which existing therapies may be limited, inconvenient, or ineffective for some patients.

Hemab's lead investigational program, HMB-001, is an engineered bispecific antibody designed to improve blood clotting by enhancing thrombin generation through inhibition of tissue factor pathway inhibitor.

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