In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Motif Bio plc (NASDAQ: MTFB), with a price target of $32. The company’s shares closed yesterday at $8.57.
Selvaraju commented:
“We expect the FDA to provide notice of acceptance for review in the summer and Motif Bio could receive regulatory approval very late this year. Conservatively, we currently project the start of revenue receipt from iclaprim sales in the U.S. in mid-2019 for Motif Bio. Investors should also note that our valuation still does not accord any contribution to the potential use of iclaprim in respiratory infections, which could prove a significant future value driver. We reiterate our Buy rating and 12-month target of $32.00 per share on MTFB.”
According to TipRanks.com, Selvaraju is a 3-star analyst with an average return of 2.4% and a 39.4% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, Biospecifics Technologies Corp, and EyePoint Pharmaceuticals Inc.
Motif Bio plc has an analyst consensus of Moderate Buy, with a price target consensus of $28.50.
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The company has a one-year high of $13.75 and a one-year low of $6.84. Currently, Motif Bio plc has an average volume of 2,728.
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Motif Bio Plc is a clinical stage biopharmaceutical company which develops novel antibiotics designed to be effective against serious and life-threatening infections caused by multi-drug resistant bacteria. It pipeline of antibiotics includes iclaprim, and MTF-001, a preclinical program to design a dihydrofolate reductase inhibitor (DHFRi).
