KeyBanc last night downgraded Harvard Bioscience (HBIO) to Sector Weight from Overweight without a price target Despite the successful launch of the company’s new products such as the MeshMEA organoid platform and a turnaround strategy that continues to take shape, financing risk and an outsized academic market exposure are likely to weigh on shares of Harvard Bioscience over the near-term, the analyst tells investors in a research note. The firm adds that Harvard is currently operating under a waiver from its lenders, following the violation of a consolidated net leverage ratio covenant.
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Read More on HBIO:
- Harvard Bioscience downgraded to Sector Weight from Overweight at KeyBanc
- Harvard Bioscience price target lowered to $4.50 from $5.50 at Benchmark
- Harvard Bioscience Reports 2024 Financial Results
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- Harvard Bioscience reports Q4 adjusted EPS 6c vs. 4c last year