Hyperfine (NASDAQ:HYPR) Price Target Raised to $2.50

Hyperfine (NASDAQ:HYPR) had its price objective boosted by Lake Street Capital from $2.00 to $2.50 in a research note issued to investors on Thursday morning,Benzinga reports. Lake Street Capital currently has a buy rating on the stock.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hyperfine in a research report on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Hyperfine presently has a consensus rating of “Hold” and a consensus target price of $1.45.

Hyperfine Stock Performance

Hyperfine stock opened at $1.24 on Thursday. Hyperfine has a 1 year low of $0.53 and a 1 year high of $2.22. The firm has a 50 day moving average price of $1.15 and a 200 day moving average price of $1.20. The company has a market cap of $120.49 million, a price-to-earnings ratio of -2.82 and a beta of 1.09.

Hyperfine (NASDAQ:HYPR) last announced its quarterly earnings results on Wednesday, March 18th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. Hyperfine had a negative net margin of 262.29% and a negative return on equity of 95.09%. The company had revenue of $5.29 million for the quarter, compared to analyst estimates of $5.30 million. Sell-side analysts predict that Hyperfine will post -0.57 EPS for the current year.

Hedge Funds Weigh In On Hyperfine

Hedge funds and other institutional investors have recently bought and sold shares of the stock. EP Wealth Advisors LLC purchased a new position in Hyperfine in the 4th quarter worth approximately $34,000. Sanctuary Advisors LLC raised its stake in shares of Hyperfine by 130.9% during the fourth quarter. Sanctuary Advisors LLC now owns 39,938 shares of the company’s stock valued at $39,000 after purchasing an additional 22,638 shares during the period. Kathmere Capital Management LLC purchased a new stake in shares of Hyperfine during the fourth quarter valued at approximately $51,000. Millennium Management LLC acquired a new position in shares of Hyperfine during the fourth quarter worth $55,000. Finally, Cerity Partners LLC acquired a new position in shares of Hyperfine during the fourth quarter worth $59,000. 15.03% of the stock is owned by institutional investors and hedge funds.

Hyperfine Company Profile

Hyperfine, Inc (NASDAQ: HYPR) is a medical technology company focused on expanding access to advanced neuroimaging through its portable magnetic resonance imaging (MRI) system. The company’s flagship product, Swoop®, is designed to enable bedside MRI scanning in a wide range of clinical environments, including emergency departments, intensive care units and outpatient clinics. By leveraging a compact, high-performance permanent magnet and a custom-designed gradient system, Hyperfine aims to reduce the logistical and financial barriers associated with traditional, large-scale MRI installations.

The Swoop system features a lightweight, wheeled design that can be maneuvered directly to a patient’s bedside, allowing clinicians to conduct diagnostic imaging without the need to transport critically ill or immobile patients.