Maxim Group
Upgrade grade
B
Downgrade grade
D
Maxim Group is an independent investment bank and equity research provider that has established itself as a focused player in the financial services industry. The firm maintains a robust research operation with approximately 869 analyst rating calls on US equities in major databases, reflecting consistent engagement across market cycles. Maxim Group is particularly well-regarded for its coverage of smaller-cap and mid-cap companies, with notable strength in technology, healthcare, and consumer sectors where the firm's analysts have developed specialized expertise. A distinctive characteristic of Maxim Group's research culture is its emphasis on contrarian analysis and willingness to publish ratings that diverge from consensus, earning the firm a reputation among institutional investors seeking independent viewpoints rather than establishment orthodoxy.
Upgrades
108
77.78% win rate
· avg +9.71% D1
Downgrades
172
66.28% win rate
· avg -1.44% D1
Avg Gap — Upgrades
+14.41%
open vs prev close
Avg Gap — Downgrades
-2.13%
open vs prev close
Performance by Sector
| Sector | ↑ Win% | ↑ D1 | ↓ Win% | ↓ D1 |
|---|---|---|---|---|
| Healthcare | 73.33% (45) | +19.24% | 66.67% (72) | -2.65% |
| Technology | 94.74% (19) | +5.29% | 65.22% (23) | -2.86% |
| Consumer Cyclical | 80.00% (15) | +0.95% | 82.61% (23) | -2.63% |
| Industrials | 50.00% (10) | -0.59% | 61.11% (18) | +2.78% |
| Real Estate | — | — | 43.75% (16) | +0.28% |
Win Rate by Year
| Year | ↑ Win% | ↑ Calls | ↓ Win% | ↓ Calls |
|---|---|---|---|---|
| 2025 | 76.9% | 13 | 62.5% | 24 |
| 2024 | — | — | 77.8% | 18 |
| 2023 | — | — | 56.3% | 16 |
| 2022 | — | — | 46.2% | 13 |
| 2020 | — | — | 42.1% | 19 |
| 2019 | 76.9% | 13 | 81.8% | 11 |
| 2018 | 70.0% | 10 | 85.7% | 14 |
| 2016 | — | — | 87.5% | 16 |
Recent Calls
| Date | Ticker | Company | Sector | Action | Grade Change | PT | Gap | D1 |
|---|---|---|---|---|---|---|---|---|
| May 20, 2026 | GILD | Gilead Sciences, Inc. | Healthcare | Upgrade | Hold → Buy | $165 | +0.7% | +0.1% |
| May 18, 2026 | NTHI | Neonc Technologies Holdings, Inc. | Healthcare | Initiates | Buy | $20 | +1.6% | -2.9% |
| Apr 27, 2026 | ENVA | Enova International, Inc. | Financial Services | Maintains | Buy → Buy | — | -0.0% | +4.2% |
| Apr 27, 2026 | DHC | Diversified Healthcare Trust | Real Estate | Initiates | Buy | $10 | +1.7% | +0.8% |
| Apr 24, 2026 | PURR | Hyperliquid Strategies Inc Common Stock | Basic Materials | Initiates | Buy | $10 | +2.8% | +0.5% |
| Apr 23, 2026 | BMI | Badger Meter, Inc. | Technology | Downgrade | Buy → Hold | — | -1.0% | -0.5% |
| Apr 20, 2026 | ORKT | Orangekloud Technology Inc. | Technology | Downgrade | Buy → Hold | — | -0.9% | +1.8% |
| Apr 20, 2026 | GMTL | Guardian Metal Resources PLC Sponsored ADR | Basic Materials | Downgrade | Buy → Hold | — | -3.6% | -2.4% |
| Apr 13, 2026 | DEFT | DeFi Technologies Inc. | Financial Services | Maintains | Buy → Buy | — | -0.3% | +2.4% |
| Apr 8, 2026 | RVPH | Reviva Pharmaceuticals Holdings, Inc. | Healthcare | Downgrade | Buy → Hold | — | +2.3% | +0.9% |
| Apr 8, 2026 | AKTX | Akari Therapeutics, Plc | Healthcare | Downgrade | Buy → Hold | — | -0.5% | +2.1% |
| Apr 6, 2026 | NAKA | Nakamoto Inc. | Healthcare | Maintains | Buy → Buy | — | +0.9% | +0.3% |
| Mar 31, 2026 | TOVX | Theriva Biologics, Inc. | Healthcare | Upgrade | Hold → Buy | — | +0.1% | +5.7% |
| Mar 30, 2026 | LSF | Laird Superfood, Inc. | Consumer Defensive | Maintains | Buy → Buy | — | +1.0% | +3.9% |
| Mar 30, 2026 | AMPG | AmpliTech Group, Inc. | Technology | Maintains | Buy → Buy | — | -0.6% | -2.2% |
| Mar 30, 2026 | DVLT | Datavault AI Inc. | Technology | Maintains | Buy → Buy | — | +3.2% | -2.5% |
| Mar 23, 2026 | ASST | Strive, Inc. | Communication Services | Maintains | Buy → Buy | — | +0.3% | +4.2% |
| Mar 18, 2026 | VRTX | Vertex Pharmaceuticals Incorporated | Healthcare | Upgrade | Hold → Buy | — | +0.1% | -2.4% |
| Mar 13, 2026 | IMPP | Imperial Petroleum Inc. | Energy | Downgrade | Buy → Hold | — | +0.0% | -0.9% |
| Mar 12, 2026 | NXGL | NEXGEL, Inc. | Healthcare | Maintains | Buy → Buy | — | +2.2% | +16.2% |
| Mar 12, 2026 | FOSL | Fossil Group, Inc. | Consumer Cyclical | Maintains | Buy → Buy | — | +12.1% | +16.5% |
| Mar 12, 2026 | SLS | SELLAS Life Sciences Group, Inc. | Healthcare | Maintains | Buy → Buy | — | +0.7% | -8.2% |
| Mar 11, 2026 | JTAI | Jet.AI Inc. | Technology | Maintains | Buy → Buy | — | +0.1% | -2.8% |
| Mar 11, 2026 | ABM | ABM Industries Incorporated | Industrials | Upgrade | Hold → Buy | — | +0.5% | -1.0% |
| Mar 10, 2026 | CLRB | Cellectar Biosciences, Inc. | Healthcare | Upgrade | Hold → Buy | — | +3.3% | +10.9% |