Benchmark Lowers Harvard Bioscience (NASDAQ:HBIO) Price Target to $0.60

Harvard Bioscience (NASDAQ:HBIO) had its target price reduced by analysts at Benchmark from $2.00 to $0.60 in a research report issued to clients and investors on Friday, MarketBeat Ratings reports. The brokerage currently has a “speculative buy” rating on the medical instruments supplier’s stock. Benchmark’s target price would suggest a potential upside of 22.95% from the company’s previous close.

HBIO has been the subject of several other research reports. Zacks Research upgraded shares of Harvard Bioscience to a “hold” rating in a research report on Thursday, December 11th. Wall Street Zen raised Harvard Bioscience from a “hold” rating to a “buy” rating in a report on Monday, November 17th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Harvard Bioscience in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Harvard Bioscience has an average rating of “Hold” and an average target price of $0.60.

Harvard Bioscience Stock Down 1.2%

Shares of HBIO traded down $0.01 during mid-day trading on Friday, reaching $0.49. The company had a trading volume of 83,892 shares, compared to its average volume of 421,875. The stock has a market capitalization of $21.82 million, a P/E ratio of -0.40 and a beta of 1.51. Harvard Bioscience has a 52-week low of $0.28 and a 52-week high of $0.95. The stock has a 50 day moving average of $0.57 and a two-hundred day moving average of $0.57.

Shares of Harvard Bioscience are scheduled to reverse split on Monday, March 16th. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, March 15th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. AMH Equity Ltd increased its stake in Harvard Bioscience by 15.4% during the third quarter. AMH Equity Ltd now owns 4,047,535 shares of the medical instruments supplier’s stock worth $1,775,000 after acquiring an additional 538,832 shares during the last quarter. Weber Capital Management LLC ADV purchased a new position in Harvard Bioscience during the fourth quarter worth about $2,140,000. Meros Investment Management LP lifted its holdings in shares of Harvard Bioscience by 32.6% in the 4th quarter. Meros Investment Management LP now owns 1,217,628 shares of the medical instruments supplier’s stock worth $814,000 after acquiring an additional 299,369 shares during the last quarter. Corsair Capital Management L.P. boosted its position in shares of Harvard Bioscience by 1,008.7% during the 4th quarter. Corsair Capital Management L.P. now owns 1,108,692 shares of the medical instruments supplier’s stock worth $741,000 after purchasing an additional 1,008,692 shares during the period. Finally, Acadian Asset Management LLC increased its holdings in Harvard Bioscience by 7.8% in the 1st quarter. Acadian Asset Management LLC now owns 1,077,069 shares of the medical instruments supplier’s stock valued at $606,000 after purchasing an additional 78,276 shares during the last quarter. 80.87% of the stock is currently owned by hedge funds and other institutional investors.

Harvard Bioscience Company Profile

Harvard Bioscience, Inc develops, manufactures and distributes life science research instruments and consumables used by academic, biopharmaceutical and government laboratories worldwide. The company’s product portfolio spans cellular physiology, microfluidics, electrophysiology and lab automation, providing tools that enable researchers to study everything from cell behavior and organ function to drug delivery and tissue mechanics.

Through its operating units—most notably Harvard Apparatus, BTX, Radnoti and Warner Instruments—Harvard Bioscience offers a diverse range of scientific equipment including precision pumps, stereotaxic instruments, electroporation and gene delivery systems, perfusion systems and microinjection tools.