Maxim Group analyst Jason McCarthy maintained a Buy rating on Moleculin Biotech (MBRX) today and set a price target of $3. The company’s shares opened today at $1.43.
McCarthy commented:
“Moleculin announced positive interim results from the initial cohorts of the ongoing P1/2 clinical studies (US and in relapsed/refractory acute myeloid patients. ○ US study, N=4 patients: no significant safety signals observed thus, including no cardiotoxicity typically seen in this class of drugs. ○ EU study, initial efficacy: first patient at 120mg/m2 experienced reduction of bone marrow blasts to 11%, from 60% with only course of drug. This should be low enough of a blast reduction for the patient to get a bone marrow transplant (BMT). Also, no safety issues, and remember this is the higher dose (120 vs. 100 in the US).”
According to TipRanks.com, McCarthy is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -3.9% and a 34.6% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, ContraVir 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 $3 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 174.9K.
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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.
