Microbot Medical (NASDAQ:MBOT) Price Target Raised to $12.00 at HC Wainwright

Key Points

• HC Wainwright has raised its price target for Microbot Medical from $9.00 to $12.00, indicating a potential upside of 236.13% from the current trading price.
• Despite the upgrade from HC Wainwright, other analysts have downgraded Microbot Medical's stock, leading to a consensus rating of "Moderate Buy" with an average target price of $12.00.
• Microbot Medical recently reported earnings of ($0.10) EPS, missing estimates, and is expected to post -0.71 EPS for the current fiscal year.

Microbot Medical (NASDAQ:MBOT - Get Free Report) had its price objective lifted by investment analysts at HC Wainwright from $9.00 to $12.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the biotechnology company's stock. HC Wainwright's target price would indicate a potential upside of 236.13% from the company's current price.

A number of other research analysts also recently weighed in on MBOT. Wall Street Zen downgraded Microbot Medical from a "hold" rating to a "sell" rating in a report on Saturday, August 30th. Zacks Research downgraded Microbot Medical from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 21st. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $12.00.

Microbot Medical Price Performance

Shares of NASDAQ:MBOT opened at $3.57 on Thursday. Microbot Medical has a 1 year low of $0.85 and a 1 year high of $4.67. The company has a market cap of $162.61 million, a PE ratio of -6.16 and a beta of 1.22. The stock's 50-day moving average is $3.08 and its 200 day moving average is $2.46.

Microbot Medical (NASDAQ:MBOT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 12th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.02). Analysts expect that Microbot Medical will post -0.71 EPS for the current fiscal year.

Hedge Funds Weigh In On Microbot Medical

Several hedge funds and other institutional investors have recently modified their holdings of MBOT. Beacon Capital Management LLC lifted its holdings in shares of Microbot Medical by 166.7% during the 2nd quarter. Beacon Capital Management LLC now owns 16,000 shares of the biotechnology company's stock valued at $40,000 after buying an additional 10,000 shares during the period. U.S. Capital Wealth Advisors LLC bought a new position in Microbot Medical in the second quarter worth approximately $25,000. American Century Companies Inc. bought a new position in Microbot Medical in the second quarter worth approximately $32,000. XTX Topco Ltd bought a new position in Microbot Medical in the second quarter worth approximately $43,000. Finally, Lazari Capital Management Inc. bought a new position in Microbot Medical in the second quarter worth approximately $54,000. 16.30% of the stock is owned by institutional investors.

Microbot Medical Company Profile

Microbot Medical Inc, a pre-clinical medical device company, engages in the research, design, and development of robotic endoluminal surgery devices targeting the minimally invasive surgery space. The company offers LIBERTY, an endovascular robotic surgical system which allows physicians to conduct a catheter-based procedure from outside the catheterization laboratory, and avoid radiation exposure, physical strain, and the risk of cross contamination for use in cardiovascular, peripheral, and neurovascular spaces.

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