Hyperfine (NASDAQ:HYPR) Price Target Raised to $2.50 at Lake Street Capital

Hyperfine (NASDAQ:HYPR) had its price target boosted by Lake Street Capital from $2.00 to $2.50 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Lake Street Capital’s target price indicates a potential upside of 106.61% from the company’s previous close.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hyperfine in a research report on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $1.45.

Hyperfine Price Performance

Shares of NASDAQ:HYPR traded down $0.06 during trading on Thursday, hitting $1.21. 1,047,613 shares of the company were exchanged, compared to its average volume of 492,415. The firm’s 50 day moving average price is $1.15 and its 200-day moving average price is $1.20. The stock has a market capitalization of $117.57 million, a P/E ratio of -2.33 and a beta of 1.09. Hyperfine has a 12-month low of $0.53 and a 12-month high of $2.22.

Hyperfine (NASDAQ:HYPR) last posted its earnings results on Wednesday, March 18th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. Hyperfine had a negative return on equity of 97.95% and a negative net margin of 378.17%.The business had revenue of $5.29 million for the quarter, compared to analysts’ expectations of $5.30 million. As a group, equities research analysts anticipate that Hyperfine will post -0.57 EPS for the current year.

Hedge Funds Weigh In On Hyperfine

A number of hedge funds and other institutional investors have recently made changes to their positions in HYPR. EP Wealth Advisors LLC acquired a new position in Hyperfine in the 4th quarter valued at about $34,000. Sanctuary Advisors LLC lifted its position in Hyperfine by 130.9% during the 4th quarter. Sanctuary Advisors LLC now owns 39,938 shares of the company’s stock worth $39,000 after acquiring an additional 22,638 shares during the period. Tortoise Investment Management LLC acquired a new stake in Hyperfine during the 3rd quarter worth approximately $65,000. Kathmere Capital Management LLC purchased a new position in shares of Hyperfine in the 4th quarter valued at approximately $51,000. Finally, Millennium Management LLC purchased a new position in shares of Hyperfine in the 4th quarter valued at approximately $55,000. Hedge funds and other institutional investors own 15.03% of the company’s stock.

Hyperfine Company Profile

Hyperfine, Inc (NASDAQ: HYPR) is a medical technology company focused on expanding access to advanced neuroimaging through its portable magnetic resonance imaging (MRI) system. The company’s flagship product, Swoop®, is designed to enable bedside MRI scanning in a wide range of clinical environments, including emergency departments, intensive care units and outpatient clinics. By leveraging a compact, high-performance permanent magnet and a custom-designed gradient system, Hyperfine aims to reduce the logistical and financial barriers associated with traditional, large-scale MRI installations.

The Swoop system features a lightweight, wheeled design that can be maneuvered directly to a patient’s bedside, allowing clinicians to conduct diagnostic imaging without the need to transport critically ill or immobile patients.