Maxim Group Reaffirms Their Buy Rating on Moleculin Biotech (MBRX)
In a report released today, Jason McCarthy from Maxim Group maintained a Buy rating on Moleculin Biotech (MBRX), with a price target of $3. The company’s shares closed yesterday at $1.31.
“Moleculin announced an outlicensing deal with WPD Pharmaceuticals (private) in Poland to develop and market a range of Moleculin’s pipeline technologies. Important, in our view, is that the deal could bring $4M+ in non- dilutive capital for development expenditures in return for rights to certain territories. Moleculin is also eligible to receive royalties on future revenue.”
According to TipRanks.com, McCarthy ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -4.9% and a 32.0% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, Aridis Pharmaceuticals Inc, and Adial Pharmaceuticals Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Moleculin Biotech with a $5.50 average price target.
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The company has a one-year high of $2.43 and a one-year low of $0.93. Currently, Moleculin Biotech has an average volume of 397.1K.
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Moleculin Biotech, Inc. is a clinical stage pharmaceutical company, which focuses on the development of oncology drug candidates. Its Annamycin product candidate helps in the treatment of relapsed or refractory acute myeloid leukemia.