Canaccord Genuity Group Cuts Babylon (NYSE:BBLN) Price Target to $5.00

Babylon (NYSE:BBLNGet Rating) had its price objective decreased by analysts at Canaccord Genuity Group from $8.00 to $5.00 in a research note issued to investors on Monday, The Fly reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 331.03% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. Zacks Investment Research raised Babylon from a “sell” rating to a “hold” rating in a report on Wednesday, May 11th. Berenberg Bank initiated coverage on Babylon in a research note on Thursday, April 28th. They issued a “hold” rating and a $5.50 price objective for the company. Citigroup cut their target price on Babylon from $5.00 to $1.50 in a research report on Friday. Finally, BTIG Research lowered their target price on shares of Babylon from $15.00 to $10.00 in a report on Monday, April 25th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $7.71.

Shares of NYSE:BBLN opened at $1.16 on Monday. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.37 and a quick ratio of 2.37. The business has a 50-day moving average price of $3.21. Babylon has a 52-week low of $1.07 and a 52-week high of $16.00.

Several institutional investors and hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC bought a new stake in Babylon in the first quarter valued at approximately $162,000. Nicholas Investment Partners LP acquired a new position in shares of Babylon during the 1st quarter worth about $383,000. Qube Research & Technologies Ltd grew its stake in shares of Babylon by 29.2% in the first quarter. Qube Research & Technologies Ltd now owns 339,830 shares of the company’s stock valued at $1,322,000 after buying an additional 76,800 shares in the last quarter. Norges Bank acquired a new stake in shares of Babylon in the fourth quarter valued at approximately $2,614,000. Finally, Wells Fargo & Company MN acquired a new position in shares of Babylon in the fourth quarter valued at $58,000.

Babylon Company Profile (Get Rating)

Babylon Holdings Limited operates as a digital healthcare company. It offers end-to-end care solution that facilities through its digital health suite, virtual care, in-person medical care, and post-care offerings. The company also provides Babylon Cloud services. It operates in the United Kingdom, the United States, the Asia Pacific, Canada, and internationally.

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