Wells Fargo & Co Increases Asante Solutions (NASDAQ:PUMP) Price Target to $14.00

Asante Solutions (NASDAQ:PUMP) had its price objective upped by Wells Fargo & Co from $12.00 to $14.00 in a research note issued to investors on Thursday, January 9th, BenzingaRatingsTable reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Co‘s price target would suggest a potential upside of 20.38% from the company’s previous close.

PUMP has been the topic of several other reports. BidaskClub raised Asante Solutions from a “strong sell” rating to a “sell” rating in a report on Wednesday, December 18th. Cowen cut Asante Solutions from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $17.00 to $11.00 in a research note on Thursday, September 12th. Goldman Sachs Group lowered Asante Solutions from a “buy” rating to a “neutral” rating and dropped their target price for the company from $15.00 to $10.00 in a research report on Thursday, November 14th. Citigroup dropped their target price on Asante Solutions from $10.70 to $10.30 and set a “neutral” rating for the company in a research report on Tuesday, October 1st. Finally, Credit Suisse Group set a $15.00 target price on Asante Solutions and gave the company a “buy” rating in a research report on Friday, October 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Asante Solutions currently has an average rating of “Buy” and an average target price of $15.25.

NASDAQ PUMP traded up $0.22 on Thursday, hitting $11.63. The company’s stock had a trading volume of 25,305 shares, compared to its average volume of 1,286,136. Asante Solutions has a 52-week low of $7.07 and a 52-week high of $25.38. The company’s 50-day simple moving average is $10.39 and its 200 day simple moving average is $11.53.

Asante Solutions (NASDAQ:PUMP) last announced its earnings results on Wednesday, November 13th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.15). The firm had revenue of $541.85 million during the quarter, compared to analysts’ expectations of $509.17 million. The business’s quarterly revenue was up 24.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.53 earnings per share.

Institutional investors have recently bought and sold shares of the stock. First Quadrant L P CA increased its holdings in Asante Solutions by 1,276.4% in the 3rd quarter. First Quadrant L P CA now owns 14,700 shares of the company’s stock valued at $134,000 after purchasing an additional 13,632 shares during the last quarter. Paloma Partners Management Co purchased a new position in Asante Solutions in the 2nd quarter valued at approximately $317,000. Nomura Holdings Inc. purchased a new position in Asante Solutions in the 3rd quarter valued at approximately $216,000. Metropolitan Life Insurance Co NY boosted its position in Asante Solutions by 11.7% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 26,387 shares of the company’s stock valued at $240,000 after buying an additional 2,772 shares during the period. Finally, Dupont Capital Management Corp boosted its position in Asante Solutions by 63.6% in the 3rd quarter. Dupont Capital Management Corp now owns 33,121 shares of the company’s stock valued at $301,000 after buying an additional 12,874 shares during the period.

About Asante Solutions

Asante Solutions, Inc is a medical device company. The Company is a manufacturer of Asante Snap Insulin Pump System (Snap system), which is a pump featuring a modular design with pre-filled insulin cartridges and disposable pump bodies, utilized in combination with a controller. The Snap system comprises four components: the Snap system controller, a disposable pump body, disposable pre-filled insulin cartridges and disposable infusion sets.

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Analyst Recommendations for Asante Solutions (NASDAQ:PUMP)

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