H.C. Wainwright
H.C. Wainwright & Co., LLC
H.C. Wainwright & Co. is a New York-based investment bank focused on capital raising for growth companies, notably through PIPEs and registered direct offerings. Its equity research centers on life sciences, with further coverage of metals and mining, technology and digital-asset companies.
Company history
H.C. Wainwright & Co. was founded in Boston in 1868 and pioneered company research in the 1930s. Its economics research arm became independent as Wainwright Economics in 1978. In 2013 former senior members of the Rodman & Renshaw team joined the firm, which PlacementTracker ranked the top placement agent by transaction volume for 40 consecutive quarters as of 2025. Mark E. Kaplan succeeded Mark Viklund as chief executive in July 2025.
- 1868Founded in Boston at the Union Bank Building
- 1978Economics research unit spun off as Wainwright Economics
- 2013Former Rodman & Renshaw senior team joins the firm
- 2024David Lenchus appointed Director of Research
- 2025Mark E. Kaplan succeeds Mark Viklund as CEO
Research
The firm rated 636 companies as of August 2026, about 84% of them Buy, with most coverage in healthcare. Ratings are Buy (Market Outperform), Neutral (Market Perform) and Sell (Market Underperform), each measured against a passive index of all stocks in the same sector. David Lenchus, formerly director of equity research at Chardan and BTIG, has led the department since August 2024.
Coverage12M
- Stocks
- 607
- Ratings
- 1,714
- Price targets
- 719
- Median upside
- +67.0%
- Upgrades
- 28
- Downgrades
- 58
- Initiations
- 26
- Reiterations
- 1,602
- Targets raised
- 358
- Targets cut
- 158
- Positive90%530
- Neutral10%57
- Negative1%4
Sectors
Ratings
Listing
Activity24M
Most covered24M
| Stock | Rating | Target |
|---|---|---|
 BBIOBridgeBio Pharma, Inc. | Buy | $120 |
 CYTKCytokinetics, Incorporated | Buy | $140 |
 CORTCorcept Therapeutics Incorporated | Buy | $165 |
 AXSMAxsome Therapeutics, Inc. | Buy | $290 |
 HALOHalozyme Therapeutics, Inc. | Buy | $115 |
 IONSIonis Pharmaceuticals, Inc. | Buy | $115 |
 ALMSAlumis Inc. Common Stock | Buy | $15 |
 ALNYAlnylam Pharmaceuticals, Inc. | Buy | $455 |
 LEGNLegend Biotech Corporation | Buy | $65 |
 SRPTSarepta Therapeutics, Inc. | Sell | $10 |
Analysts24M
- Raghuram SelvarajuBWAY · BCPC · AXSM47
- Andrew FeinUTHR · AMLX · DBVT46
- Yi ChenTEM · RGNX · LFMD38
- Swayampakula RamakanthCORT · CELC · BSEM37
- Robert BurnsEXEL · RVMD · COGT33
- Heiko IhleEXK · DRD · AG33
Recent actions
| Stock | Rating action | Rating | Target | Date |
|---|---|---|---|---|
| ELElemental Royalty Corporation Common StockELE | Target | $33 →$31 | Sep 22 | |
 Anixa Biosciences, Inc.ANIX | Reiterate | Buy | $7 →$6 | Sep 22 |
| CLCelldex Therapeutics, Inc.CLDX | Reiterate | Buy | $80 →$64 | Sep 22 |
 Viking Therapeutics, Inc.VKTX | Reiterate | Buy | Sep 22 | |
| BEHeartBeam, Inc.BEAT | Downgrade | Buy →Neutral | Sep 22 | |
 Vertex Pharmaceuticals IncorporatedVRTX | Reiterate | Buy | $591 →$641 | Sep 22 |
| ANAnaptysBio, Inc.ANAB | Reiterate | Buy | $66 →$95 | Sep 22 |
| ARArmata Pharmaceuticals, Inc.ARMP | Reiterate | Neutral | Sep 22 |
Similar coverage12M
References
- Our History – H.C. Wainwright & Co.hcwco.com
- H.C. Wainwright Appoints Mark E. Kaplan as Chief Executive Officer (Business Wire, July 2025)businesswire.com
- About HCWE & Companyhcwe.com
- H.C. Wainwright announces the appointment of David Lenchus as Director of Research (August 2024)hcwco.com
- H.C. Wainwright research disclosures and rating distribution (MediciNova report, August 2026)medicinova.jp
- HC Wainwright Analyst Recommendations – MarketBeatmarketbeat.com