In a report released yesterday, Jason McCarthy from Maxim Group maintained a Buy rating on Matinas BioPharma (MTNB), with a price target of $5. The company’s shares opened today at $0.93.
McCarthy commented:
“Matinas reported 1Q19 with a net loss of ($4.3M) and cash of $39.4M. This included a $32.4M financing completed in March, which should provide funding into 2021.”
According to TipRanks.com, McCarthy has currently no stars on a ranking scale of 0-5 stars, with an average return of -13.2% and a 26.5% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Teva Pharmaceutical Industries Limited, SELLAS Life Sciences Group Inc, and ContraVir Pharmaceuticals Inc.
The the analyst consensus on Matinas BioPharma is currently a Hold rating.
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Based on Matinas BioPharma’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $4.05 million. In comparison, last year the company had a GAAP net loss of $4.11 million.
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Matinas BioPharma Holdings, Inc. is a clinical-stage biopharmaceutical company, which focuses on enabling the delivery of life-changing medicines using its LNC platform technology. The company’s proprietary, disruptive technology utilizes lipid nano-crystals which can encapsulate small molecule drugs, oligonucleotides, vaccines, peptides, proteins, and other medicines potentially making them safer, more tolerable, less toxic, and orally bioavailable. Its anti-fungal product candidate, MAT2203, delivers broad-spectrum fungicidal agent, amphotericin B; and is being developed to prevent invasive fungal infections in patients with acute lymphoblastic leukemia. The company was founded in May 2013 and is headquartered in Bedminster, NJ.
