TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
BioHarvest Sciences ( (BHST) ) has provided an announcement.
BioHarvest Sciences Inc. has announced its intention to offer and sell shares of its common stock in an underwritten public offering, with Craig-Hallum acting as the sole managing underwriter. The proceeds from this offering are expected to be used for various corporate purposes, including research and development, manufacturing, marketing, advancing the CDMO business unit, debt reduction or refinancing, capital expenditures, and funding working capital. This move is anticipated to bolster the company’s operational capabilities and enhance its market positioning, potentially impacting stakeholders by expanding its financial resources for strategic initiatives.
The most recent analyst rating on (BHST) stock is a Hold with a $8.50 price target. To see the full list of analyst forecasts on BioHarvest Sciences stock, see the BHST Stock Forecast page.
Spark’s Take on BHST Stock
According to Spark, TipRanks’ AI Analyst, BHST is a Neutral.
BioHarvest Sciences faces significant financial challenges, with high leverage and ongoing losses impacting its financial performance. The technical analysis indicates a bearish trend, and the valuation is unattractive due to a negative P/E ratio. However, the earnings call provides some optimism with revenue growth and strategic initiatives, slightly offsetting the negative aspects.
To see Spark’s full report on BHST stock, click here.
More about BioHarvest Sciences
BioHarvest Sciences Inc. is a leader in the Botanical Synthesis industry, utilizing its patented technology platform to grow plant-based compounds without cultivating the actual plants. The company operates in two primary business verticals: as a contract development and production organization (CDMO) for clients seeking novel plant-based compounds, and as a producer of proprietary nutraceutical health and wellness products, including dietary supplements.
Average Trading Volume: 63,191
Technical Sentiment Signal: Buy
Current Market Cap: $168.9M
Find detailed analytics on BHST stock on TipRanks’ Stock Analysis page.