$3.32 Million in Sales Expected for Heat Biologics Inc (HTBX) This Quarter

Brokerages expect Heat Biologics Inc (NASDAQ:HTBX) to report $3.32 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Heat Biologics’ earnings. The lowest sales estimate is $1.20 million and the highest is $6.95 million. Heat Biologics posted sales of $470,000.00 in the same quarter last year, which indicates a positive year-over-year growth rate of 606.4%. The firm is scheduled to report its next quarterly earnings results on Monday, November 12th.

On average, analysts expect that Heat Biologics will report full year sales of $6.28 million for the current fiscal year, with estimates ranging from $4.30 million to $8.40 million. For the next financial year, analysts anticipate that the business will report sales of $3.23 million, with estimates ranging from $2.40 million to $4.80 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Heat Biologics.

Heat Biologics (NASDAQ:HTBX) last issued its quarterly earnings results on Tuesday, August 14th. The biopharmaceutical company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.09). Heat Biologics had a negative net margin of 437.62% and a negative return on equity of 116.28%. The company had revenue of $1.14 million during the quarter, compared to the consensus estimate of $1.11 million.

A number of brokerages have weighed in on HTBX. HC Wainwright began coverage on shares of Heat Biologics in a report on Tuesday, June 26th. They issued a “buy” rating and a $6.00 price target for the company. Eurobank EFG began coverage on shares of Heat Biologics in a report on Monday, July 9th. They issued a “buy” rating and a $11.00 price target for the company. Finally, Brookline Cap M reissued a “buy” rating on shares of Heat Biologics in a report on Wednesday, August 1st.

An institutional investor recently bought a new position in Heat Biologics stock. Northern Trust Corp acquired a new stake in Heat Biologics Inc (NASDAQ:HTBX) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 51,512 shares of the biopharmaceutical company’s stock, valued at approximately $111,000. Northern Trust Corp owned approximately 0.22% of Heat Biologics as of its most recent filing with the SEC. 4.41% of the stock is currently owned by hedge funds and other institutional investors.

Heat Biologics stock traded up $0.03 during mid-day trading on Friday, reaching $1.96. The company had a trading volume of 813 shares, compared to its average volume of 162,028. Heat Biologics has a 52 week low of $1.09 and a 52 week high of $7.90.

About Heat Biologics

Heat Biologics, Inc, a biopharmaceutical company, focuses on developing approaches to activate and co-stimulate a patient's immune system against cancer in the United States. The company's T-cell activating platform (TCAP) produces therapies designed to turn immunologically cold tumors hot and be administered in combination with checkpoint inhibitors and other immuno-modulators to enhance clinical effectiveness.

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