Oppenheimer Reaffirms “Outperform” Rating for Harpoon Therapeutics (NASDAQ:HARP)

Oppenheimer restated their outperform rating on shares of Harpoon Therapeutics (NASDAQ:HARP) in a research note published on Tuesday morning, Benzinga reports.

Several other equities analysts also recently weighed in on HARP. TD Cowen reaffirmed a market perform rating on shares of Harpoon Therapeutics in a research report on Tuesday, January 16th. Leerink Partnrs downgraded Harpoon Therapeutics from an outperform rating to a market perform rating in a research report on Monday, January 8th. Citigroup reaffirmed a neutral rating and issued a $23.00 target price (up from $13.00) on shares of Harpoon Therapeutics in a research report on Monday, February 26th. Finally, HC Wainwright downgraded Harpoon Therapeutics from a buy rating to a neutral rating and boosted their price objective for the stock from $12.00 to $23.00 in a research report on Monday, January 8th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Harpoon Therapeutics currently has a consensus rating of Hold and an average price target of $27.25.

Harpoon Therapeutics Price Performance

NASDAQ HARP opened at $23.01 on Tuesday. The company has a market cap of $389.61 million, a P/E ratio of -2.63 and a beta of 2.11. The stock has a 50-day moving average of $22.72 and a two-hundred day moving average of $13.89. Harpoon Therapeutics has a 1-year low of $3.11 and a 1-year high of $23.21.

Insider Buying and Selling

In other Harpoon Therapeutics news, major shareholder Merck & Co., Inc. bought 21,397,205 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was purchased at an average price of $23.00 per share, for a total transaction of $492,135,715.00. Following the completion of the purchase, the insider now directly owns 1,000 shares in the company, valued at $23,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 17.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Harpoon Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HARP. BNP Paribas Arbitrage SA increased its holdings in shares of Harpoon Therapeutics by 571.5% in the second quarter. BNP Paribas Arbitrage SA now owns 12,986 shares of the company’s stock valued at $25,000 after purchasing an additional 11,052 shares during the period. Prudential Financial Inc. acquired a new position in shares of Harpoon Therapeutics in the first quarter valued at approximately $32,000. Two Sigma Investments LP increased its holdings in shares of Harpoon Therapeutics by 73.6% in the third quarter. Two Sigma Investments LP now owns 33,361 shares of the company’s stock valued at $32,000 after purchasing an additional 14,149 shares during the period. Susquehanna International Group LLP increased its holdings in shares of Harpoon Therapeutics by 168.1% in the first quarter. Susquehanna International Group LLP now owns 53,949 shares of the company’s stock valued at $40,000 after purchasing an additional 33,830 shares during the period. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of Harpoon Therapeutics in the fourth quarter valued at approximately $44,000. Hedge funds and other institutional investors own 74.01% of the company’s stock.

Harpoon Therapeutics Company Profile

Harpoon Therapeutics, Inc, a clinical-stage immunotherapy company, engages in the development of a novel class of T cell engagers that harness the power of the body's immune system to treat patients suffering from cancer and other diseases in the United States. The company develops tri-specific T cell activating construct (TriTAC) product candidate, including HPN328, which is in Phase I/II clinical trials for the treatment of small cell lung cancer and other Delta-like canonical Notch ligand 3-expressing tumors; and HPN217 that is in Phase I clinical trials for the treatment of multiple myeloma.