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Investing.com - Raymond (NSE:RYMD) James upgraded HLS Therapeutics (TSX:HLS) stock rating from Market Perform to Outperform and raised its price target to C$6.00 from C$5.00.
The upgrade follows HLS Therapeutics’ second quarter 2025 performance, which showed a slight revenue miss but beat adjusted EBITDA expectations due to reduced operating expenses.
Raymond James highlighted HLS’s capital allocation program, which included stock buybacks, debt reduction, and portfolio expansion through an in-licensing deal for new cardiovascular drug assets during the quarter.
The company also secured a new, larger credit facility to support its ongoing capital allocation efforts, according to the Raymond James report.
The upgrade was motivated by steady growth in Vascepa sales, with first-half 2025 prescriptions exceeding total fiscal year 2024 prescriptions, significant adjusted EBITDA recovery since fiscal year 2024, and the potential of adding a new cardiovascular asset to the company’s platform.
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