Hemab Therapeutics (NASDAQ:COAG) Price Target Raised to $60.00 at HC Wainwright

Key Points

• HC Wainwright raised Hemab Therapeutics’ price target to $60 from $52 and maintained a “buy” rating, implying 16.91% upside from the reported $51.32 share price.
• Analyst sentiment remains favorable, with five buy ratings and one hold rating; MarketBeat lists a consensus “Moderate Buy” rating and an average target of $49.60.
• Shares rose 2.9% to $51.32, while the company reported a quarterly loss of $0.80 per share, missing expectations of a $0.63 loss. Insiders also purchased 72,467 shares during the last quarter.

Hemab Therapeutics (NASDAQ:COAG - Get Free Report) had its target price lifted by HC Wainwright from $52.00 to $60.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the stock. HC Wainwright's target price would suggest a potential upside of 16.91% from the stock's current price.

Several other research analysts also recently weighed in on COAG. Zacks Research upgraded Hemab Therapeutics to a "hold" rating in a research note on Wednesday, May 27th. Jefferies Financial Group upped their price objective on shares of Hemab Therapeutics from $39.00 to $47.00 and gave the company a "buy" rating in a report on Monday, July 13th. Wedbush reiterated an "outperform" rating and set a $55.00 target price (up from $42.00) on shares of Hemab Therapeutics in a research report on Monday, July 13th. Wall Street Zen upgraded shares of Hemab Therapeutics to a "hold" rating in a research note on Saturday, May 9th. Finally, Evercore initiated coverage on shares of Hemab Therapeutics in a research report on Tuesday, May 26th. They issued an "outperform" rating and a $50.00 price target on the stock. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Hemab Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus target price of $49.60.

Hemab Therapeutics Trading Up 2.9%

COAG stock traded up $1.45 during trading on Tuesday, reaching $51.32. 57,573 shares of the stock were exchanged, compared to its average volume of 320,959. The business's 50 day simple moving average is $36.98. The firm has a market capitalization of $2.40 billion and a price-to-earnings ratio of -2.14. Hemab Therapeutics has a twelve month low of $23.00 and a twelve month high of $53.61.

Hemab Therapeutics (NASDAQ:COAG - Get Free Report) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.80) 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 -2.89 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Ra Capital Management, L.P. bought 61,523 shares of the business's stock in a transaction dated Tuesday, June 16th. The shares were purchased at an average price of $24.98 per share, with a total value of $1,536,844.54. Following the purchase, the insider owned 6,444,637 shares of the company's stock, valued at approximately $160,987,032.26. This trade represents a 0.96% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have acquired a total of 72,467 shares of company stock valued at $1,809,595 in the last quarter.

Hemab Therapeutics Company Profile

Hemab Therapeutics is a clinical-stage biotechnology company focused on developing novel therapies for people with serious bleeding and thrombotic disorders. The company's research is centered on treatments designed to address diseases of the blood and coagulation system, with the goal of improving outcomes for patients who may not be adequately served by existing options.

Hemab's pipeline includes drug candidates aimed at rare hematologic conditions, including factor XI-related approaches and other programs in inherited bleeding disorders.

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