After Leerink Partners and Piper Sandler gave Harpoon Therapeutics (NASDAQ: HARP) a Buy rating last month, the company received another Buy, this time from H.C. Wainwright. Analyst Swayampakula Ramakanth reiterated a Buy rating on Harpoon Therapeutics today and set a price target of $31.00. The company’s shares closed last Friday at $22.42.
According to TipRanks.com, Ramakanth is a 5-star analyst with an average return of 31.3% and a 47.8% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Diffusion Pharmaceuticals, Corvus Pharmaceuticals, and Cellectar Biosciences.
Currently, the analyst consensus on Harpoon Therapeutics is a Strong Buy with an average price target of $32.50, a 46.6% upside from current levels. In a report issued on May 6, Leerink Partners also reiterated a Buy rating on the stock with a $29.00 price target.
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Based on Harpoon Therapeutics’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $7.49 million and GAAP net loss of $11.36 million. In comparison, last year the company earned revenue of $2.23 million and had a GAAP net loss of $14.27 million.
Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of HARP in relation to earlier this year.
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Harpoon Therapeutics, Inc. is a clinical-stage immunotherapy company, which develops a 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. It offers Tri-specific T cell Activating Construct (TriTACs) that focuses on the treatment of solid tumors and hematologic malignancies. The company founded by Patrick A. Baeuerle, Luke B. Evnin, and Jeanmarie Guenot on March 19, 2015 and is headquartered in South San Francisco, CA.
