BioCardia (NASDAQ:BCDA) Shares Climb 1% – Time to Buy?

Shares of BioCardia, Inc. (NASDAQ:BCDA) shot up 1% on Thursday. The stock traded as high as $1.0450 and last traded at $1.02. Approximately 205,872 shares traded hands during mid-day trading, a decline of 43% from the average daily volume of 358,596 shares. The stock had previously closed at $1.01.

Wall Street Analysts Forecast Growth

BCDA has been the topic of a number of recent analyst reports. Wall Street Zen raised BioCardia from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. HC Wainwright restated a “buy” rating on shares of BioCardia in a report on Monday, August 24th. Zacks Research upgraded shares of BioCardia from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of BioCardia in a research note on Friday, July 17th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, BioCardia presently has an average rating of “Hold” and a consensus price target of $25.00.

BioCardia Stock Up 2.0%

The stock has a market capitalization of $15.74 million, a price-to-earnings ratio of -1.62 and a beta of 0.62. The company has a 50 day simple moving average of $1.02 and a 200-day simple moving average of $1.04.

BioCardia (NASDAQ:BCDA) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.05. As a group, sell-side analysts anticipate that BioCardia, Inc. will post -0.71 earnings per share for the current fiscal year.

About BioCardia

BioCardia, Inc is a biotechnology company developing regenerative medicine therapies for cardiovascular diseases. The company focuses on cell-based treatments intended to repair or improve damaged heart tissue and restore cardiac function in patients with serious cardiovascular conditions.

BioCardia’s portfolio includes the investigational CardiAMP Cell Therapy System, which uses a patient’s own bone marrow-derived cells and is being evaluated for conditions such as ischemic heart failure and chronic myocardial ischemia.