HeartSciences (NASDAQ:HSCS) Price Target Cut to $8.00 by Analysts at Ascendiant Capital Markets

HeartSciences (NASDAQ:HSCS) had its price target reduced by research analysts at Ascendiant Capital Markets from $9.00 to $8.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Ascendiant Capital Markets’ price objective suggests a potential upside of 223.89% from the company’s current price.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of HeartSciences in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $8.00.

HeartSciences Stock Performance

Shares of HSCS stock opened at $2.47 on Tuesday. The firm has a market cap of $7.85 million, a price-to-earnings ratio of -0.50 and a beta of 2.53. HeartSciences has a 52-week low of $2.01 and a 52-week high of $6.47. The company has a quick ratio of 1.04, a current ratio of 1.19 and a debt-to-equity ratio of 0.16. The company’s 50 day moving average is $2.95 and its 200 day moving average is $3.03.

HeartSciences (NASDAQ:HSCS) last posted its earnings results on Thursday, March 12th. The company reported ($0.63) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.21. On average, sell-side analysts anticipate that HeartSciences will post -10.01 EPS for the current fiscal year.

Hedge Funds Weigh In On HeartSciences

Several institutional investors and hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC acquired a new position in shares of HeartSciences during the second quarter worth $43,000. TFB Advisors LLC purchased a new stake in shares of HeartSciences during the 3rd quarter valued at $105,000. Finally, DRW Securities LLC boosted its position in shares of HeartSciences by 13.7% in the 4th quarter. DRW Securities LLC now owns 95,065 shares of the company’s stock worth $294,000 after purchasing an additional 11,455 shares in the last quarter. 17.24% of the stock is owned by hedge funds and other institutional investors.

About HeartSciences

HeartSciences, Inc (NASDAQ: HSCS) is a medical device company focused on the development and commercialization of advanced, non?invasive cardiac diagnostic technologies. The company’s flagship product, MyoVista, is a high?fidelity electrocardiograph (ECG) designed to detect subtle changes in cardiac function that may indicate myocardial ischemia or left ventricular dysfunction. By leveraging high?frequency wavelet analysis within the QRS complex, MyoVista provides clinicians with enhanced visualization and analytical capabilities that extend beyond those of standard ECG systems.

HeartSciences supports the MyoVista system with an integrated software suite that automates data analysis and report generation, facilitating seamless integration into existing clinical workflows.