Wall Street analysts shuffled their outlooks on several notable companies this week, with two cryptocurrency-related stocks catching fresh attention from Chardan Capital.
Analyst James McIlree kicked off coverage on Hyperliquid Strategies Inc. (PURR) with a Buy rating and a price target of $8.15. That's a pretty optimistic stance considering the stock closed Tuesday at $3.32, suggesting McIlree sees more than 140% upside potential from current levels.
The same analyst also initiated coverage on Hyperion DeFi, Inc. (HYPD) with an equally bullish Buy rating, setting a price target of $7.75. Hyperion DeFi finished Tuesday's session at $3.75, which means the analyst's target implies roughly 107% upside if his thesis plays out.
Both companies operate in the decentralized finance space, which has seen renewed interest as cryptocurrency markets regain momentum. McIlree's dual initiations signal growing Wall Street attention to DeFi-focused investment vehicles, even as the broader crypto sector continues navigating regulatory uncertainty.
For investors weighing whether to jump into HYPD stock, it's worth noting that fresh analyst coverage can sometimes move smaller-cap names, though price targets represent analysts' best guesses about future value rather than guarantees.
