Zacks Investment Research upgraded shares of Harpoon Therapeutics (NASDAQ:HARP) from a hold rating to a buy rating in a report released on Wednesday morning, Zacks.com reports. They currently have $7.25 target price on the stock.
According to Zacks, “Harpoon Therapeutics Inc. is a clinical-stage immunotherapy company developing a novel class of T cell engagers which harness the power of the body’s immune system to treat patients suffering from cancer and other diseases. Using its proprietary Tri-specific T cell Activating Construct(TM) platform, they are developing a pipeline of novel T cell engagers, focused on the treatment of solid tumors and hematologic malignancies. Harpoon Therapeutics Inc. is based in San Francisco, United States. “
HARP has been the subject of a number of other reports. Citigroup lowered their price objective on shares of Harpoon Therapeutics from $16.00 to $14.00 and set a buy rating for the company in a report on Wednesday, November 17th. SVB Leerink reiterated a buy rating on shares of Harpoon Therapeutics in a report on Thursday, December 16th. Finally, Cantor Fitzgerald reiterated an overweight rating on shares of Harpoon Therapeutics in a report on Monday, October 18th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of Buy and a consensus price target of $24.03.
Harpoon Therapeutics (NASDAQ:HARP) last announced its quarterly earnings data on Wednesday, November 10th. The company reported ($0.51) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.52) by $0.01. The firm had revenue of $4.48 million during the quarter, compared to analyst estimates of $6.38 million. Harpoon Therapeutics had a negative net margin of 397.64% and a negative return on equity of 69.97%. Equities research analysts expect that Harpoon Therapeutics will post -1.58 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp raised its holdings in Harpoon Therapeutics by 3.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 47,882 shares of the company’s stock worth $378,000 after purchasing an additional 1,493 shares in the last quarter. IndexIQ Advisors LLC raised its holdings in Harpoon Therapeutics by 11.1% in the 3rd quarter. IndexIQ Advisors LLC now owns 21,491 shares of the company’s stock worth $170,000 after purchasing an additional 2,152 shares in the last quarter. Deutsche Bank AG raised its holdings in Harpoon Therapeutics by 16.5% in the 2nd quarter. Deutsche Bank AG now owns 18,102 shares of the company’s stock worth $251,000 after purchasing an additional 2,567 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in shares of Harpoon Therapeutics by 310.4% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 3,755 shares of the company’s stock worth $30,000 after buying an additional 2,840 shares during the period. Finally, Rhumbline Advisers grew its position in shares of Harpoon Therapeutics by 40.8% in the 2nd quarter. Rhumbline Advisers now owns 14,560 shares of the company’s stock worth $202,000 after buying an additional 4,218 shares during the period. Institutional investors and hedge funds own 84.40% of the company’s stock.
About Harpoon Therapeutics
Harpoon Therapeutics, Inc is a clinical-stage immunotherapy company, which engages in the development of antibodies. It focuses on the research of novel class of T cell engagers that harness the power of the body’s immune system to treat patients suffering from cancer and other diseases. The firm utilizes its proprietary Tri-specific T cell Activating Construct platform to create a pipeline of novel TriTACs for the treatment of solid tumors and hematologic malignancies.
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