Analysts Set Neovasc Inc (NASDAQ:NVCN) PT at $7.25

Neovasc Inc (NASDAQ:NVCN) (TSE:NVC) has received an average recommendation of “Buy” from the six research firms that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $7.25.

Several equities research analysts have recently commented on the stock. ValuEngine downgraded shares of Neovasc from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 28th. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Neovasc in a research report on Thursday, July 2nd. Zacks Investment Research downgraded shares of Neovasc from a “buy” rating to a “hold” rating in a research report on Wednesday, July 8th. Finally, SVB Leerink reaffirmed a “market perform” rating and issued a $6.00 price objective on shares of Neovasc in a research report on Thursday, August 20th.

A number of hedge funds have recently modified their holdings of NVCN. Bank of America Corp DE boosted its stake in Neovasc by 40.8% in the second quarter. Bank of America Corp DE now owns 19,661 shares of the medical equipment provider’s stock valued at $47,000 after acquiring an additional 5,700 shares during the last quarter. Two Sigma Advisers LP boosted its stake in Neovasc by 121.6% in the first quarter. Two Sigma Advisers LP now owns 39,408 shares of the medical equipment provider’s stock valued at $58,000 after acquiring an additional 21,628 shares during the last quarter. Wedbush Securities Inc. purchased a new position in Neovasc in the second quarter valued at about $106,000. Morgan Stanley lifted its stake in shares of Neovasc by 139.9% during the 1st quarter. Morgan Stanley now owns 63,030 shares of the medical equipment provider’s stock valued at $92,000 after buying an additional 36,758 shares in the last quarter. Finally, Sabby Management LLC purchased a new stake in shares of Neovasc during the 2nd quarter valued at approximately $776,000. 17.79% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:NVCN remained flat at $$2.11 during midday trading on Tuesday. 223,826 shares of the stock traded hands, compared to its average volume of 344,390. The business’s 50 day moving average price is $2.24 and its 200 day moving average price is $2.35. The stock has a market cap of $47.79 million, a P/E ratio of -0.61 and a beta of 2.72. Neovasc has a one year low of $1.24 and a one year high of $8.65.

Neovasc (NASDAQ:NVCN) (TSE:NVC) last posted its earnings results on Thursday, August 6th. The medical equipment provider reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.59) by ($0.22). The firm had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.30 million. On average, equities analysts predict that Neovasc will post -1.83 earnings per share for the current fiscal year.

Neovasc Company Profile

Neovasc Inc, a specialty medical device company, develops, manufactures, and markets cardiovascular devices worldwide. Its products include the Tiara technology for the transcatheter treatment of mitral valve disease; and the Neovasc Reducer for the treatment of refractory angina. The company also provides Peripatch tissue products.

Recommended Story: What is the CBOE Russell 2000® Volatility Index?

Receive News & Ratings for Neovasc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Neovasc and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit