Hemab Therapeutics (NASDAQ:COAG) Stock Rated Overweight in New Coverage at JPMorgan Chase & Co.

Key Points

• JPMorgan initiated coverage of Hemab Therapeutics with an “overweight” rating and a $70 price target, implying 133.8% upside from the prior close.
• Analyst sentiment is broadly positive: the stock has a “Moderate Buy” consensus rating and an average target of $54.71, with recent targets ranging from $47 to $64.
• Hemab reported a quarterly loss of $0.80 per share, missing expectations by $0.17, while several institutional investors—including Citadel Advisors and State Street—recently established positions.

Equities research analysts at JPMorgan Chase & Co. assumed coverage on shares of Hemab Therapeutics (NASDAQ:COAG - Get Free Report) in a research note issued on Thursday, Briefing.com reports. The firm set an "overweight" rating and a $70.00 price target on the stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 133.80% from the company's previous close.

A number of other equities analysts have also recently commented on COAG. Rodman & Renshaw initiated coverage on shares of Hemab Therapeutics in a research report on Monday. They set a "buy" rating and a $56.00 price objective for the company. HC Wainwright increased their price objective on shares of Hemab Therapeutics from $52.00 to $60.00 and gave the company a "buy" rating in a research report on Tuesday, August 11th. Weiss Ratings lowered shares of Hemab Therapeutics from a "sell (d+)" rating to a "sell (d)" rating in a research report on Friday, September 25th. Jefferies Financial Group raised 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. Finally, Wedbush lifted their target price on shares of Hemab Therapeutics from $55.00 to $64.00 and gave the stock an "outperform" rating in a report on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $54.71.

Hemab Therapeutics Price Performance

Hemab Therapeutics stock opened at $29.94 on Thursday. Hemab Therapeutics has a 52 week low of $23.00 and a 52 week high of $55.42. The stock's 50-day simple moving average is $41.66.

Hemab Therapeutics (NASDAQ:COAG - Get Free Report) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.63) by ($0.17). As a group, sell-side analysts predict that Hemab Therapeutics will post -3.09 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp bought a new position in Hemab Therapeutics during the 2nd quarter worth $2,825,000. Citadel Advisors LLC acquired a new stake in shares of Hemab Therapeutics during the second quarter worth $19,226,000. Opaleye Management Inc. acquired a new stake in shares of Hemab Therapeutics during the second quarter worth $1,750,000. Braidwell LP bought a new stake in shares of Hemab Therapeutics in the second quarter valued at about $5,877,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Hemab Therapeutics in the second quarter valued at about $688,000.

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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