Histogenics Corporation (HSGX) Draws Bullish Attention After Forming Bullish Multiple Top Pattern

September 16, 2018 - By Rene Reddy

Histogenics Corporation (NASDAQ:HSGX) Logo

The stock of Histogenics Corporation (HSGX) shows a multiple tops pattern with $0.58 target or 9.00 % above today’s $0.53 share price. The 8 months chart pattern indicates low risk for the $15.50 million company. It was reported on Sep, 16 by Finviz.com. If the $0.58 price target is reached, the company will be worth $1.39M more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock decreased 9.23% or $0.05 during the last trading session, reaching $0.53. About 1.25M shares traded or 99.61% up from the average. Histogenics Corporation (NASDAQ:HSGX) has declined 68.41% since September 16, 2017 and is downtrending. It has underperformed by 84.03% the S&P500.

Analysts await Histogenics Corporation (NASDAQ:HSGX) to report earnings on November, 8. They expect $-0.19 EPS, up 17.39 % or $0.04 from last year’s $-0.23 per share. After $-0.25 actual EPS reported by Histogenics Corporation for the previous quarter, Wall Street now forecasts -24.00 % EPS growth.

Histogenics Corporation (NASDAQ:HSGX) Ratings Coverage

Among 2 analysts covering Histogenics (NASDAQ:HSGX), 1 have Buy rating, 0 Sell and 1 Hold. Therefore 50% are positive. Histogenics had 3 analyst reports since March 19, 2018 according to SRatingsIntel. H.C. Wainwright maintained Histogenics Corporation (NASDAQ:HSGX) rating on Monday, March 19. H.C. Wainwright has “Buy” rating and $3.5 target. The stock of Histogenics Corporation (NASDAQ:HSGX) has “Buy” rating given on Friday, May 11 by H.C. Wainwright. BTIG Research downgraded Histogenics Corporation (NASDAQ:HSGX) on Thursday, September 6 to “Neutral” rating.

More news for Histogenics Corporation (NASDAQ:HSGX) were recently published by: Seekingalpha.com, which released: “Histogenics: Very Risky Odds With Limited Payoff” on September 14, 2018. Seekingalpha.com‘s article titled: “Histogenics down 45% on announcing results from Phase 3 trial of NeoCart in patients with knee cartilage damage” and published on September 05, 2018 is yet another important article.

Histogenics Corporation, a regenerative medicine company, focuses on developing and commercializing products in the musculoskeletal segment of the marketplace in the United States. The company has market cap of $15.50 million. The firm offers NeoCart, a tissue implant, which is in Phase III clinical trial to treat tissue injury in the field of orthopedics, specifically cartilage damage in the knee. It currently has negative earnings. It has an exclusive channel collaboration agreement with Intrexon Corporation for the development and commercialization of allogeneic genetically modified chondrocyte cell therapeutics for the treatment or repair of damaged articular hyaline cartilage in humans.

Histogenics Corporation (NASDAQ:HSGX) Ratings Chart

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