Hercules Capital (HTGC) stock plummeted 5.06% during intraday trading on Friday, reflecting significant selling pressure on the business development company.
The sharp decline appears to be driven by multiple analyst downgrades published earlier in the trading session. Both HC Wainwright and Piper Sandler lowered their ratings on Hercules Capital from Overweight to Neutral, signaling reduced confidence in the stock's near-term prospects.
In addition to the rating downgrades, both firms also significantly reduced their price targets for HTGC. HC Wainwright adjusted its target to $17.50 from $20.50, while Piper Sandler cut its target to $17.5 from $20.5, representing substantial reductions in expected valuation.
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