H.C. Wainwright
Upgrade grade
C
Downgrade grade
B
H.C. Wainwright & Co. is an independent investment bank founded in 1886 with deep roots in American financial markets, operating today as a boutique firm that combines traditional investment banking with equity research capabilities. The firm maintains a focused presence with approximately 367 analyst ratings in their US equities coverage, reflecting their selective approach to research rather than attempting blanket market coverage like mega-cap banks. H.C. Wainwright has developed particular expertise in small and microcap companies, especially within the healthcare, life sciences, and specialty finance sectors, where their research often captures opportunities overlooked by larger institutions with mandates to cover only larger names. The firm has built a distinctive reputation for conducting deep-dive fundamental analysis on complex biotech and emerging companies, earning credibility among institutional investors who value independent perspectives on companies in early commercial stages or those with specialized business models that require sector expertise to properly evaluate.
Upgrades
14
78.57% win rate
· avg +7.31% D1
Downgrades
24
83.33% win rate
· avg -9.54% D1
Avg Gap — Upgrades
+5.10%
open vs prev close
Avg Gap — Downgrades
-7.44%
open vs prev close
Performance by Sector
| Sector | ↑ Win% | ↑ D1 | ↓ Win% | ↓ D1 |
|---|---|---|---|---|
| Healthcare | 80.00% (10) | +4.97% | 89.47% (19) | -11.91% |
Win Rate by Year
| Year | ↑ Win% | ↑ Calls | ↓ Win% | ↓ Calls |
|---|
Recent Calls
| Date | Ticker | Company | Sector | Action | Grade Change | PT | Gap | D1 |
|---|---|---|---|---|---|---|---|---|
| May 22, 2026 | SMMT | — | — | Downgrade | Buy → Neutral | — | — | — |
| May 18, 2026 | PMI | Picard Medical, Inc. | Healthcare | Initiates | Neutral | — | +2.5% | +6.9% |
| May 18, 2026 | CRCL | Circle Internet Group | Financial Services | Upgrade | Neutral → Buy | $150 | -1.7% | -2.3% |
| May 15, 2026 | ALMS | Alumis Inc. Common Stock | Healthcare | Downgrade | Buy → Neutral | $25 | -8.4% | -7.1% |
| May 8, 2026 | TRDA | Entrada Therapeutics, Inc. | Healthcare | Downgrade | Buy → Neutral | — | -3.2% | -0.1% |
| May 4, 2026 | MPLT | MapLight Therapeutics, Inc. | Healthcare | Initiates | Buy | $45 | -0.5% | -6.8% |
| May 4, 2026 | CELC | Celcuity Inc. | Healthcare | Upgrade | Neutral → Buy | $165 | +13.1% | +15.4% |
| May 1, 2026 | KALV | KalVista Pharmaceuticals, Inc. | Healthcare | Downgrade | Buy → Neutral | $27 | +0.0% | -0.0% |
| Apr 28, 2026 | TRAX | First Tracks Biotherapeutics Inc | Healthcare | Initiates | Buy | $30 | -3.6% | +10.8% |
| Apr 27, 2026 | NGEN | NervGen Pharma Corp. Common stock | Healthcare | Initiates | Buy | $18 | +3.1% | -1.8% |
| Apr 27, 2026 | LBRX | LB Pharmaceuticals Inc Common Stock | Healthcare | Initiates | Buy | $45 | +0.7% | +3.5% |
| Apr 23, 2026 | ASTI | Ascent Solar Technologies, Inc. Common Stock | Energy | Initiates | Buy | $20 | +10.7% | +7.4% |
| Apr 21, 2026 | ASST | Strive, Inc. | Communication Services | Initiates | Buy | $36 | +3.1% | -2.0% |
| Mar 3, 2021 | NBP | NovaBridge Biosciences | Healthcare | Maintains | Buy → Buy | — | +1.3% | +4.0% |
| Mar 2, 2021 | NBP | NovaBridge Biosciences | Healthcare | Maintains | Buy → Buy | — | -0.7% | -7.9% |
| Dec 17, 2020 | ABUS | Arbutus Biopharma Corporation | Healthcare | Maintains | Buy → Buy | — | +15.2% | +7.3% |
| Nov 25, 2020 | JAGX | Jaguar Health, Inc. | Healthcare | Maintains | Buy → Buy | — | +0.4% | -1.6% |
| Nov 25, 2020 | AEMD | Aethlon Medical, Inc. | Healthcare | Maintains | Buy → Buy | — | +9.0% | +9.7% |
| Nov 25, 2020 | CLGN | CollPlant Biotechnologies Ltd. | Healthcare | Maintains | Buy → Buy | — | -0.9% | +2.6% |
| Nov 25, 2020 | EFOI | Energy Focus, Inc. | Consumer Cyclical | Maintains | Buy → Buy | — | +0.2% | +3.5% |
| Nov 25, 2020 | IPWR | Ideal Power Inc. | Industrials | Maintains | Buy → Buy | — | +0.0% | -3.0% |
| Nov 25, 2020 | INMB | INmune Bio, Inc. | Healthcare | Maintains | Buy → Buy | — | +0.2% | +0.0% |
| Nov 25, 2020 | MBOT | Microbot Medical Inc. | Healthcare | Maintains | Buy → Buy | — | +3.0% | +0.3% |
| Nov 25, 2020 | ACHV | Achieve Life Sciences, Inc. | Healthcare | Maintains | Buy → Buy | — | -1.5% | +1.6% |
| Nov 25, 2020 | ARCT | Arcturus Therapeutics Holdings Inc. | Healthcare | Maintains | Buy → Buy | — | -0.6% | +0.8% |