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Investing.com - Benchmark lowered its price target on Harvard Bioscience Inc. (NASDAQ:HBIO) to $2.00 from $3.00 on Wednesday, while maintaining a Speculative Buy rating on the stock. The company’s shares, currently trading at $0.44, have declined nearly 85% over the past year, according to InvestingPro data.
The price target reduction reflects the challenging environment for life science tools companies, particularly small-cap firms like Harvard Bioscience, which have significantly underperformed the broader market this year. InvestingPro analysis shows the company faces financial headwinds with short-term obligations exceeding liquid assets and a current ratio of 0.81.
Benchmark noted that the S&P 500 healthcare sector has gained just 0.4% year-to-date compared to the overall S&P 500’s 10.7% increase, making it the worst-performing sector among the 11 S&P GICS sectors.
The situation is particularly dire for life science tools companies, which have declined 10.8% year-to-date, with small-cap companies in this space down 37.2% for the year, making them the worst-performing group among all S&P 1500 healthcare industry groups.
Benchmark’s new $2 price target represents 1x the firm’s 2026 revenue estimate for Harvard Bioscience, reflecting ongoing concerns about basic research funding, drug pricing, and tariffs that create an uncertain environment likely to persist in the near future. Despite these challenges, InvestingPro analysis indicates the stock is currently undervalued, with 12 additional exclusive insights available to subscribers through the comprehensive Pro Research Report.
In other recent news, Harvard Bioscience reported its Q2 2025 earnings, revealing a mixed performance. The company posted a revenue of $20.5 million, which fell short of the $21.4 million forecast by analysts. Earnings per share came in at -$0.01, below the expected -$0.005. Additionally, Harvard Bioscience has appointed Stephen DeNelsky to its Board of Directors, where he will also serve on the Nominating and Governance Committee. DeNelsky brings 30 years of experience in the healthcare sector. In another development, the company entered into a retention agreement with Interim CFO Mark Frost. This agreement includes a $100,000 cash bonus if Frost remains employed through the refinancing of the company’s existing term loan and senior revolving credit facility by March 15, 2026. These recent developments highlight ongoing changes within Harvard Bioscience.
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