The sell-side analysts who cover IP investments are all terrible, regardless of what firm they are at. Listen to the larger IP companies conference calls or read the transcripts from the Q&A. It is all a joke.
Thankfully the company will be valued based on management execution, not what some analyst in NYC writes in a boilerplate report. The added exposure is great, but it does not make or break the investment.
That's because H.C. Wainwright merged with or bought Rodman & Renshaw or hired a bunch of their people or something along those lines not too long ago. So the banking deals come often out of HCW these days.