BioCardia (NASDAQ:BCDA) Price Target Cut to $4.00

BioCardia (NASDAQ:BCDA – Get Rating) had its price objective dropped by equities researchers at Maxim Group to $4.00 in a note issued to investors on Thursday, Stock Target Advisor reports. Maxim Group’s target price points to a potential upside of 151.57% from the stock’s previous close.

Other analysts have also issued research reports about the stock. Brookline Capital Management restated a “buy” rating on shares of BioCardia in a research report on Thursday, February 3rd. Zacks Investment Research upgraded shares of BioCardia from a “sell” rating to a “hold” rating in a report on Monday, April 11th.

BioCardia stock traded up $0.04 during midday trading on Thursday, reaching $1.59. 1,348 shares of the company’s stock were exchanged, compared to its average volume of 1,278,841. The firm has a market cap of $27.74 million, a price-to-earnings ratio of -2.09 and a beta of 1.40. BioCardia has a 52 week low of $1.10 and a 52 week high of $5.10. The stock’s 50-day simple moving average is $1.75 and its 200 day simple moving average is $1.94.

BioCardia (NASDAQ:BCDA – Get Rating) last released its quarterly earnings results on Tuesday, March 29th. The company reported ($0.21) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.21). BioCardia had a negative return on equity of 110.86% and a negative net margin of 1,261.32%. The business had revenue of $0.08 million during the quarter, compared to the consensus estimate of $0.05 million. During the same period in the previous year, the company posted ($0.16) EPS. On average, sell-side analysts expect that BioCardia will post -0.72 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of BCDA. Renaissance Technologies LLC bought a new position in BioCardia in the 1st quarter valued at about $28,000. Millennium Management LLC bought a new stake in BioCardia in the 3rd quarter worth about $31,000. Dimensional Fund Advisors LP purchased a new stake in BioCardia in the 1st quarter valued at about $57,000. Commonwealth Equity Services LLC lifted its position in shares of BioCardia by 156.5% during the 4th quarter. Commonwealth Equity Services LLC now owns 42,307 shares of the company’s stock worth $82,000 after buying an additional 25,815 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in shares of BioCardia in the fourth quarter valued at approximately $109,000. 15.40% of the stock is owned by institutional investors and hedge funds.

About BioCardia (Get Rating)

BioCardia, Inc, a clinical-stage regenerative medicine company, develops cellular and cell-derived therapeutics for cardiovascular and pulmonary diseases. Its lead therapeutic candidate is the CardiAMP Cell Therapy System for the treatment of heart failure and chronic myocardial ischemia; and allogeneic cell therapy for cardiac and pulmonary disease.

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