why Harpoon Therapeutics Inc [HARP] is a Good Choice for Investors After New Price Target of $22.42

Harpoon Therapeutics Inc [NASDAQ: HARP] closed the trading session at $22.43. The company report on January 8, 2024 at 7:30 AM that Merck to Acquire Harpoon Therapeutics, Further Diversifying Oncology Pipeline.

Acquisition includes HPN328, an investigational delta-like ligand 3 (DLL3) targeting T-cell engager being evaluated in certain patients with small cell lung cancer and neuroendocrine tumors.

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Merck (NYSE: MRK), known as MSD outside of the United States and Canada, and Harpoon Therapeutics, Inc. (Nasdaq: HARP) today announced that the companies have entered into a definitive agreement under which Merck, through a subsidiary, will acquire Harpoon for $23.00 per share in cash for an approximate total equity value of $680 million.

The stocks have a year to date performance of 97.27 percent and weekly performance of 0.40 percent. The stock has been moved at 180.73 percent over the last six months. The stock has performed -0.04 percent around the most recent 30 days and changed 158.11 percent over the most recent 3-months.

If compared to the average trading volume of 750.11K shares, HARP reached to a volume of 2954613 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Harpoon Therapeutics Inc [HARP]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for HARP shares is $22.42 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on HARP stock is a recommendation set at 2.56. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Oppenheimer have made an estimate for Harpoon Therapeutics Inc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on January 05, 2024.

The Average True Range (ATR) for Harpoon Therapeutics Inc is set at 0.41, with the Price to Sales ratio for HARP stock in the period of the last 12 months amounting to 10.18. The Price to Book ratio for the last quarter was 20.29, with the Price to Cash per share for the same quarter was set at 1.86.

HARP stock trade performance evaluation

Harpoon Therapeutics Inc [HARP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.40. With this latest performance, HARP shares dropped by -0.04% in over the last four-week period, additionally plugging by 180.73% over the last 6 months – not to mention a rise of 128.88% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for HARP stock in for the last two-week period is set at 79.91, with the RSI for the last a single of trading hit 76.66, and the three-weeks RSI is set at 78.40 for Harpoon Therapeutics Inc [HARP]. The present Moving Average for the last 50 days of trading for this stock 17.18, while it was recorded at 22.47 for the last single week of trading, and 9.66 for the last 200 days.

Harpoon Therapeutics Inc [HARP]: An insightful look at the core fundamentals

Harpoon Therapeutics Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.89 and a Current Ratio set at 1.89.

Earnings per share (EPS) analysis for Harpoon Therapeutics Inc [HARP] stock

With the latest financial reports released by the company, Harpoon Therapeutics Inc posted -5.5/share EPS, while the average EPS was predicted by analysts to be reported at -4.67/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -17.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for HARP.

Harpoon Therapeutics Inc [HARP]: Institutional Ownership

The top three institutional holders of HARP stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in HARP stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in HARP stock with ownership which is approximately 5.8325%.