Hercules Capital (NYSE:HTGC) Given New $18.00 Price Target at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods cut its price target on Hercules Capital to $18 (from $19) while retaining an "outperform" rating, implying about a 14.8% upside from the current share price; MarketBeat's consensus target is $18.38 with a "Moderate Buy" consensus.
• HTGC opened at $15.68 and trades in a 1‑year range of $13.70–$19.67 with a $2.88B market cap; the company reported Q earnings of $0.48 EPS (in line with estimates) but revenue missed, and insiders bought shares (including a 20,000‑share purchase by Director Thomas J. Fallon), totaling 117,015 shares acquired in the past three months.

Hercules Capital (NYSE:HTGC - Get Free Report) had its target price dropped by stock analysts at Keefe, Bruyette & Woods from $19.00 to $18.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an "outperform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' price target indicates a potential upside of 14.83% from the company's current price.

A number of other equities research analysts also recently weighed in on HTGC. Weiss Ratings downgraded shares of Hercules Capital from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, February 24th. Wells Fargo & Company decreased their price target on shares of Hercules Capital from $18.00 to $17.00 and set an "overweight" rating on the stock in a research note on Friday, February 13th. Piper Sandler decreased their price target on shares of Hercules Capital from $17.50 to $16.50 and set a "neutral" rating on the stock in a research note on Tuesday, April 7th. Wall Street Zen downgraded shares of Hercules Capital from a "buy" rating to a "hold" rating in a research note on Saturday, December 20th. Finally, UBS Group decreased their price target on shares of Hercules Capital from $19.50 to $15.00 and set a "neutral" rating on the stock in a research note on Friday, March 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, Hercules Capital currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.38.

Hercules Capital Trading Up 2.6%

Shares of HTGC stock opened at $15.68 on Thursday. Hercules Capital has a 1 year low of $13.70 and a 1 year high of $19.67. The firm's fifty day simple moving average is $15.03 and its 200 day simple moving average is $17.10. The firm has a market capitalization of $2.88 billion, a P/E ratio of 8.57 and a beta of 0.83. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.03.

Hercules Capital (NYSE:HTGC - Get Free Report) last announced its earnings results on Thursday, February 12th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.48. Hercules Capital had a net margin of 63.80% and a return on equity of 15.97%. The business had revenue of $133.25 million for the quarter, compared to analyst estimates of $141.57 million. During the same quarter in the previous year, the firm posted $0.49 earnings per share. As a group, sell-side analysts predict that Hercules Capital will post 1.96 EPS for the current year.

Insider Buying and Selling

In other news, Director Thomas J. Fallon bought 20,000 shares of Hercules Capital stock in a transaction dated Friday, February 27th. The shares were bought at an average price of $14.20 per share, for a total transaction of $284,000.00. Following the purchase, the director owned 150,369 shares of the company's stock, valued at approximately $2,135,239.80. This trade represents a 15.34% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Paramjeet K. Randhawa bought 3,050 shares of Hercules Capital stock in a transaction dated Wednesday, March 4th. The stock was purchased at an average price of $14.78 per share, for a total transaction of $45,079.00. Following the purchase, the director directly owned 19,560 shares in the company, valued at $289,096.80. This represents a 18.47% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 117,015 shares of company stock worth $1,749,620 in the last three months. Company insiders own 1.80% of the company's stock.

Institutional Investors Weigh In On Hercules Capital

Several institutional investors and hedge funds have recently made changes to their positions in HTGC. Integrated Wealth Concepts LLC boosted its stake in shares of Hercules Capital by 5.9% in the 1st quarter. Integrated Wealth Concepts LLC now owns 17,241 shares of the financial services provider's stock valued at $331,000 after purchasing an additional 959 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of Hercules Capital by 85.9% in the 1st quarter. Empowered Funds LLC now owns 22,854 shares of the financial services provider's stock valued at $439,000 after purchasing an additional 10,559 shares in the last quarter. Focus Partners Wealth boosted its stake in shares of Hercules Capital by 26.0% in the 1st quarter. Focus Partners Wealth now owns 15,747 shares of the financial services provider's stock valued at $302,000 after purchasing an additional 3,250 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Hercules Capital by 81.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,780 shares of the financial services provider's stock valued at $87,000 after buying an additional 2,151 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Hercules Capital by 1.6% in the second quarter. Invesco Ltd. now owns 78,951 shares of the financial services provider's stock valued at $1,443,000 after buying an additional 1,252 shares during the last quarter. Institutional investors and hedge funds own 19.69% of the company's stock.

Hercules Capital Company Profile

Hercules Capital, Inc is a specialty finance company organized as a business development company (BDC) that provides tailored debt financing solutions to high‐growth companies. Through its external management structure, Hercules Capital extends senior secured loans, subordinated debt and growth capital designed to support research and development, expansion initiatives and working capital needs. The firm primarily partners with venture capital and private equity sponsors to finance innovative enterprises across various developmental stages.

The company's investment portfolio is concentrated in technology, life sciences and sustainable and renewable technology sectors, reflecting its focus on industries with strong growth prospects and recurring capital requirements.

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