Ascendiant Capital Markets Has Lowered Expectations for HeartSciences (NASDAQ:HSCS) Stock Price

HeartSciences (NASDAQ:HSCS) had its price objective dropped by research analysts at Ascendiant Capital Markets from $9.00 to $8.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Ascendiant Capital Markets’ price target points to a potential upside of 223.89% from the company’s current price.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of HeartSciences in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, HeartSciences has a consensus rating of “Hold” and an average price target of $8.00.

HeartSciences Stock Down 3.1%

Shares of HSCS opened at $2.47 on Tuesday. The company has a quick ratio of 1.04, a current ratio of 1.19 and a debt-to-equity ratio of 0.16. The business has a fifty day moving average of $2.95 and a 200 day moving average of $3.03. The company has a market cap of $7.85 million, a PE ratio of -0.50 and a beta of 2.53. HeartSciences has a 52-week low of $2.01 and a 52-week high of $6.47.

HeartSciences (NASDAQ:HSCS) last posted its quarterly earnings data on Thursday, March 12th. The company reported ($0.63) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.21. On average, sell-side analysts expect that HeartSciences will post -10.01 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. DRW Securities LLC boosted its position in HeartSciences by 13.7% in the 4th quarter. DRW Securities LLC now owns 95,065 shares of the company’s stock valued at $294,000 after buying an additional 11,455 shares during the period. Geode Capital Management LLC purchased a new stake in shares of HeartSciences in the second quarter valued at approximately $43,000. Finally, TFB Advisors LLC bought a new stake in HeartSciences during the 3rd quarter valued at $105,000. Hedge funds and other institutional investors own 17.24% of the company’s stock.

About HeartSciences

HeartSciences, Inc (NASDAQ: HSCS) is a medical device company focused on the development and commercialization of advanced, non‐invasive cardiac diagnostic technologies. The company’s flagship product, MyoVista, is a high‐fidelity electrocardiograph (ECG) designed to detect subtle changes in cardiac function that may indicate myocardial ischemia or left ventricular dysfunction. By leveraging high‐frequency wavelet analysis within the QRS complex, MyoVista provides clinicians with enhanced visualization and analytical capabilities that extend beyond those of standard ECG systems.

HeartSciences supports the MyoVista system with an integrated software suite that automates data analysis and report generation, facilitating seamless integration into existing clinical workflows.