This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Hansen Medical Shares Rise After Analyst Upgrade

MOUNTAIN VIEW, Calif. (AP) ¿ Shares of Hansen Medical Inc. soared in Thursday afternoon trading after a Brean Murray Carret & Co. analyst upgraded the stock to "Buy" from "Hold," citing its cheap price.

Hansen Medical makes medical robotic technology used with catheters. It has been hurt as the economic slump and tight credit markets have driven hospitals and physician groups to curb spending on equipment. Its stock has steadily declined over the past 52 weeks from a peak of $9.57 to recently bottom at $2.41.

The company's stock has approached all-time lows, and its current valuation "offers an attractive entry point for investors who have a longer time horizon," said analyst Jose Haresco III in a research note.

He set a target price of $4.50, which would mark a nearly 69 percent premium to the stock's Wednesday closing price of $2.67. On Thursday, Hansen shares climbed 27 cents, or more than 10 percent, to $2.94.

Haresco expects Hansen to post a loss per share of 95 cents in 2010, which is smaller than analysts' current consensus estimate of $1.11 per share. He said the stock's valuation is lower than its peer group "and we believe that the stock's valuation can catch up with its peer group as the fundamentals improve."

Last month, Hansen reported its third-quarter loss narrowed to $11.9 million from $12.9 million a year earlier, as cost cutting helped offset a sharp drop in revenue to $4.6 million from $9.6 million.

Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
HNSN $0.78 0.00%
AAPL $128.46 0.00%
FB $78.97 0.00%
GOOG $558.40 0.00%
TSLA $203.34 0.00%

Markets

DOW 18,132.70 -81.72 -0.45%
S&P 500 2,104.50 -6.24 -0.30%
NASDAQ 4,963.5270 -24.3630 -0.49%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs