Maxim Group analyst Jason McCarthy assigned a Buy rating to Moleculin Biotech (MBRX) today and set a price target of $3. The company’s shares opened today at $1.59.
McCarthy wrote:
“Moleculin announced that STAT3 inhibitor WP1066 has been granted orphan designation for treatment of glioblastoma multiforme (GBM).”
According to TipRanks.com, McCarthy has currently no stars on a ranking scale of 0-5 stars, with an average return of -2.8% and a 33.8% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, Sonoma Pharmaceuticals Inc, and Aridis Pharmaceuticals Inc.
Currently, the analyst consensus on Moleculin Biotech is a Moderate Buy with an average price target of $5.50.
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Based on Moleculin Biotech’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $2.04 million. In comparison, last year the company had a GAAP net loss of $3.19 million.
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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.
