HeartBeam, Inc. (NASDAQ:BEAT) Receives $4.80 Average Price Target from Analysts

Shares of HeartBeam, Inc. (NASDAQ:BEAT) have been given a consensus rating of “Moderate Buy” by the eight ratings firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $4.80.

Several equities research analysts recently commented on BEAT shares. Weiss Ratings restated a “sell (e+)” rating on shares of HeartBeam in a research report on Monday, December 29th. Wall Street Zen downgraded shares of HeartBeam to a “strong sell” rating in a research report on Saturday, January 3rd. D. Boral Capital started coverage on shares of HeartBeam in a research report on Friday, March 27th. They issued a “buy” rating and a $5.00 price target for the company. HC Wainwright restated a “buy” rating and issued a $5.50 price target on shares of HeartBeam in a research report on Monday, March 16th. Finally, B. Riley Financial started coverage on shares of HeartBeam in a research report on Tuesday, March 31st. They issued a “buy” rating and a $4.00 price target for the company.

HeartBeam Stock Performance

Shares of NASDAQ:BEAT opened at $0.89 on Thursday. The company has a market cap of $36.38 million, a PE ratio of -1.43 and a beta of -0.63. HeartBeam has a 52 week low of $0.54 and a 52 week high of $4.00. The firm has a 50 day simple moving average of $1.31 and a 200 day simple moving average of $1.62.

HeartBeam (NASDAQ:BEAT) last issued its quarterly earnings results on Thursday, March 12th. The medical research company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.01).

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC acquired a new position in HeartBeam in the 4th quarter valued at approximately $70,000. State Street Corp increased its stake in HeartBeam by 60.1% in the 4th quarter. State Street Corp now owns 125,473 shares of the medical research company’s stock valued at $301,000 after buying an additional 47,100 shares during the period. Jane Street Group LLC acquired a new position in HeartBeam in the 4th quarter valued at approximately $55,000. Insigneo Advisory Services LLC acquired a new position in HeartBeam in the 4th quarter valued at approximately $74,000. Finally, CIBC Private Wealth Group LLC acquired a new position in HeartBeam in the 4th quarter valued at approximately $26,000. Institutional investors and hedge funds own 7.77% of the company’s stock.

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.