Harpoon Therapeutics (NASDAQ:HARP) Upgraded to “Hold” at Zacks Investment Research

Harpoon Therapeutics (NASDAQ:HARP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Thursday, Zacks.com reports.

According to Zacks, “Harpoon Therapeutics Inc. is a clinical-stage immunotherapy company developing a novel class of T cell engagers which harness the power of the body’s immune system to treat patients suffering from cancer and other diseases. Using its proprietary Tri-specific T cell Activating Construct(TM) platform, they are developing a pipeline of novel T cell engagers, focused on the treatment of solid tumors and hematologic malignancies. Harpoon Therapeutics Inc. is based in San Francisco, United States. “

HARP has been the topic of several other reports. Wedbush assumed coverage on Harpoon Therapeutics in a report on Tuesday, March 5th. They set an “outperform” rating and a $23.00 price objective on the stock. Robert W. Baird initiated coverage on Harpoon Therapeutics in a report on Monday, April 22nd. They issued an “outperform” rating and a $25.00 price target for the company. Svb Leerink reiterated an “outperform” rating on shares of Harpoon Therapeutics in a report on Tuesday, March 5th. Citigroup reiterated a “buy” rating and issued a $23.00 price target on shares of Harpoon Therapeutics in a report on Friday, May 24th. Finally, Canaccord Genuity initiated coverage on Harpoon Therapeutics in a report on Tuesday, March 5th. They issued a “buy” rating and a $24.00 price target for the company. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $23.75.

HARP stock opened at $11.89 on Thursday. Harpoon Therapeutics has a 52-week low of $9.07 and a 52-week high of $17.85. The company has a market cap of $282.66 million and a price-to-earnings ratio of -0.46.

Harpoon Therapeutics (NASDAQ:HARP) last posted its quarterly earnings data on Thursday, March 14th. The company reported ($8.15) earnings per share (EPS) for the quarter. The business had revenue of $1.06 million during the quarter, compared to the consensus estimate of $1.22 million. As a group, equities analysts anticipate that Harpoon Therapeutics will post -2.78 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. MPM Asset Management LLC bought a new stake in shares of Harpoon Therapeutics in the 1st quarter valued at approximately $42,846,000. New Leaf Venture Partners L.L.C. bought a new stake in shares of Harpoon Therapeutics in the 1st quarter valued at approximately $27,666,000. Fosun International Ltd bought a new stake in shares of Harpoon Therapeutics in the 1st quarter valued at approximately $3,062,000. BlackRock Inc. bought a new stake in shares of Harpoon Therapeutics in the 1st quarter valued at approximately $879,000. Finally, Northern Trust Corp bought a new stake in shares of Harpoon Therapeutics in the 1st quarter valued at approximately $309,000. Institutional investors and hedge funds own 54.14% of the company’s stock.

About Harpoon Therapeutics

Harpoon Therapeutics, Inc, a clinical-stage immunotherapy company, engages in the development of a novel class of T cell engagers that harness the power of the body's immune system to treat patients suffering from cancer and other diseases in the United States. The company's lead TriTAC product candidate is HPN424 that is in Phase I clinical trial for the treatment of metastatic castration-resistant prostate cancer.

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