Bullish indicating open at $55-$60, IPO prices at $37
Investing.com - Harvard Bioscience Inc. (NASDAQ:HBIO) has pre-announced second-quarter revenue of approximately $20.4 million, exceeding consensus expectations of $18.8 million, according to Benchmark. The company, currently trading at $0.46, has shown strong revenue performance despite challenging market conditions, with a gross profit margin of 57%. According to InvestingPro data, analysts expect the company to return to profitability this year.
Benchmark analyst Bruce Jackson reiterated a Speculative Buy rating on the stock with a $3.00 price target following the announcement.
Harvard Bioscience also announced that CEO and Chairman Jim Green will retire after more than eight years as Chairman and six years as President & CEO. Current board member John Duke will take over as the new President and CEO effective July 28, 2025.
The company plans to appoint two new independent directors, Rob Gagnon and Seth Benson, to its Board of Directors effective July 16, 2025.
Harvard Bioscience is scheduled to report its complete second-quarter 2025 financial results on August 11, 2025.
In other recent news, Harvard Bioscience reported its first-quarter 2025 earnings with a revenue of $21.8 million, surpassing the anticipated $20 million. Despite the year-over-year decline from $24.5 million in Q1 2024, the revenue exceeded expectations, highlighting effective cost management and strategic initiatives. The company anticipates second-quarter 2025 revenue to be between $18 million and $20 million, maintaining a gross margin projection of 55% to 57%. In leadership changes, John Duke will take over as President and CEO on July 28, 2025, succeeding Jim Green, who is retiring. Duke has been credited with achieving significant revenue growth during his tenure at Plastic Molding Technology. Additionally, Rob Gagnon and Seth Benson have been appointed to the Board of Directors. Harvard Bioscience has also been focusing on new product launches, such as the SOHO telemetry devices and the VivaMARS system, to drive future growth. The company has reiterated its focus on cost reduction and product expansion, particularly in bioproduction and alternative testing methods.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.