Maxim lowered the firm’s price target on HCW Biologics (HCWB) to $35 from $120 but keeps a Buy rating on the shares. The firm cites the company’s Q1 results and equity raise in adjusting its price target but also notes that HCW has made considerable progress in shoring up its balance sheet and advancing its pipeline following a challenging legal issue and arbitration, the analyst tells investors in a research note. The company should now have the capital to advance its pipeline and drive a turnaround in share value, Maxim added.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on HCWB:
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue