HLS Therapeutics (TSE:HLS) Raised to "Strong-Buy" at Raymond James Financial

Key Points

• Raymond James upgraded HLS Therapeutics to “strong buy” from “outperform” and raised its price target to C$8.00 from C$7.00, implying 104.6% upside from the prior close.
• Canaccord Genuity also upgraded the stock to “buy.” Analysts now give HLS an average “strong buy” rating with a consensus price target of C$8.00.
• HLS shares recently traded at C$3.91, while the company reported a quarterly loss of C$0.03 per share on C$14.67 million in revenue and continues to post negative profitability metrics.

HLS Therapeutics (TSE:HLS - Get Free Report) was upgraded by investment analysts at Raymond James Financial from an "outperform" rating to a "strong-buy" rating in a report issued on Friday,BayStreet.CA reports. The firm presently has a C$8.00 price objective on the stock, up from their previous price objective of C$7.00. Raymond James Financial's price target indicates a potential upside of 104.60% from the stock's previous close.

Separately, Canaccord Genuity Group raised HLS Therapeutics from a "hold" rating to a "buy" rating in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Strong Buy" and a consensus price target of C$8.00.

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HLS Therapeutics Price Performance

HLS Therapeutics stock traded up C$0.04 during mid-day trading on Friday, reaching C$3.91. 14,905 shares of the company were exchanged, compared to its average volume of 22,297. The company has a fifty day simple moving average of C$4.23 and a 200-day simple moving average of C$4.41. HLS Therapeutics has a 12 month low of C$3.77 and a 12 month high of C$5.77. The company has a debt-to-equity ratio of 75.00, a current ratio of 1.00 and a quick ratio of 1.01. The firm has a market cap of C$122.29 million, a PE ratio of -12.22 and a beta of -0.18.

HLS Therapeutics (TSE:HLS - Get Free Report) last released its earnings results on Wednesday, August 12th. The company reported C($0.03) earnings per share for the quarter. The company had revenue of C$14.67 million for the quarter. HLS Therapeutics had a negative net margin of 18.42% and a negative return on equity of 16.54%. During the same period last year, the firm posted ($0.09) EPS. As a group, equities research analysts expect that HLS Therapeutics will post -0.12 earnings per share for the current fiscal year.

HLS Therapeutics Company Profile

HLS Therapeutics Inc is a specialty pharmaceutical company. It is focused on the acquisition and commercialization of branded pharmaceutical products in the North American markets. The company is focused on treatment products for the central nervous system (CNS), and cardiovascular specialties. The company products include Clozaril, Absorica, Vascepa, CSAN Pronto, Trinomia and Perseris. The company earns revenue in the form of product sales and royalties, out of which product sales contribute to the majority of the revenue.

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