Analysts Set HeartBeam, Inc. (NASDAQ:BEAT) Target Price at $4.00

Shares of HeartBeam, Inc. (NASDAQ:BEAT) have earned an average rating of “Moderate Buy” from the nine analysts that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $4.00.

A number of brokerages have issued reports on BEAT. D. Boral Capital lowered shares of HeartBeam from a “buy” rating to a “hold” rating in a research note on Monday, April 20th. Weiss Ratings reissued a “sell (e+)” rating on shares of HeartBeam in a report on Thursday, July 2nd. Wall Street Zen raised HeartBeam from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Maxim Group started coverage on HeartBeam in a research note on Tuesday, July 14th. They issued a “buy” rating and a $2.00 target price for the company. Finally, B. Riley Financial assumed coverage on HeartBeam in a research report on Tuesday, March 31st. They set a “buy” rating and a $4.00 price target for the company.

Institutional Investors Weigh In On HeartBeam

A number of institutional investors and hedge funds have recently modified their holdings of BEAT. Virtu Financial LLC purchased a new position in HeartBeam during the 4th quarter worth approximately $70,000. Jane Street Group LLC purchased a new stake in shares of HeartBeam in the 4th quarter valued at $55,000. Insigneo Advisory Services LLC acquired a new stake in shares of HeartBeam in the fourth quarter worth $74,000. CIBC Private Wealth Group LLC acquired a new position in HeartBeam during the fourth quarter valued at $26,000. Finally, Truist Financial Corp acquired a new stake in HeartBeam during the fourth quarter worth about $36,000. Institutional investors and hedge funds own 7.77% of the company’s stock.

HeartBeam Stock Performance

Shares of NASDAQ BEAT opened at $0.57 on Friday. HeartBeam has a fifty-two week low of $0.51 and a fifty-two week high of $4.00. The company has a market cap of $31.55 million, a PE ratio of -1.01 and a beta of -0.82. The business has a 50-day simple moving average of $0.77 and a two-hundred day simple moving average of $1.21.

HeartBeam (NASDAQ:BEAT) last posted its quarterly earnings data on Wednesday, May 13th. The medical research company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.02. On average, sell-side analysts predict that HeartBeam will post -0.38 earnings per share for the current fiscal year.

HeartBeam Company Profile

BioTelemetry, Inc, a remote medical technology company, provides remote cardiac monitoring, remote blood glucose monitoring, centralized core laboratory services for clinical trials, and original equipment manufacturing services for healthcare and clinical research customers worldwide. It operates in two segments, Healthcare and Research. The Healthcare segment focuses on the remote cardiac monitoring to identify cardiac arrhythmias or heart rhythm disorders. This segment offers mobile cardiac telemetry services; and event monitoring services, which enable physicians to prescribe wireless event, digital loop event, memory loop event, memory loop event, and non-loop event monitors.