BioCardia (NASDAQ:BCDA) Posts Quarterly Earnings Results, Beats Expectations By $0.62 EPS

BioCardia (NASDAQ:BCDA) posted its earnings results on Wednesday. The company reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.87) by $0.62, Zacks reports. The business had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.02 million. During the same period in the previous year, the firm earned ($8.19) EPS.

BioCardia Stock Performance

Shares of BCDA stock opened at $2.55 on Thursday. The stock’s fifty day moving average is $2.44 and its 200-day moving average is $2.41. BioCardia has a 52 week low of $1.63 and a 52 week high of $6.41. The stock has a market capitalization of $11.69 million, a PE ratio of -0.61 and a beta of 1.28.

Insider Transactions at BioCardia

In other BioCardia news, Director Simon H. Stertzer purchased 22,753 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were bought at an average price of $2.30 per share, with a total value of $52,331.90. Following the completion of the transaction, the director now directly owns 40,602 shares in the company, valued at $93,384.60. This trade represents a 127.47 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders have purchased 25,353 shares of company stock worth $58,525. Corporate insiders own 20.00% of the company’s stock.

Wall Street Analyst Weigh In

BCDA has been the subject of several analyst reports. HC Wainwright reissued a “buy” rating and set a $25.00 price target on shares of BioCardia in a report on Wednesday, December 18th. Alliance Global Partners upgraded shares of BioCardia from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 30th.

About BioCardia

BioCardia, Inc, a clinical-stage regenerative medicine company, develops cellular and cell-derived therapeutics for cardiovascular and pulmonary diseases in the United States. Its lead product candidate is CardiAMP, an autologous mononuclear cell therapy system in Phase III clinical trial for the treatment of ischemic heart failure with reduced ejection fraction and refractory angina resulting from chronic myocardial ischemia.