Northland Securities analyst Carl Byrnes maintained a Buy rating on Motif Bio plc (MTFB) today and set a price target of $5. The company’s shares opened today at $1.14, close to its 52-week low of $1.02.
Byrnes observed:
“We anticipate Motif to propose a clinical trial protocol to the FDA in the coming months, which upon concurrence will provide a path forward for iclaprim for the treatment of acute bacterial skin and skin structure infections (ABSSSI). Pre-open, Motif Bio plc announced that it has received the minutes from its May 3rd ‘Type A’ meeting with the FDA, addressing liver toxicity concerns cited in the Complete Response Letter (CRL) received in mid-February relating to the New Drug Application (NDA) of iclaprim for the treatment of acute bacterial skin and skin structure infections (ABSSSI). The minutes indicate that an additional clinical trial will be required prior to regulatory authorization to address the agency’s liver toxicity concerns; this outcome is consistent with our expectations.”
According to TipRanks.com, Byrnes has 0 stars on 0-5 star ranking scale with an average return of -9.2% and a 25.5% success rate. Byrnes covers the Healthcare sector, focusing on stocks such as Opiant Pharmaceuticals Inc, Aridis Pharmaceuticals Inc, and Adamas Pharmaceuticals.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Motif Bio plc with a $5 average price target.
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The company has a one-year high of $11.45 and a one-year low of $1.02. Currently, Motif Bio plc has an average volume of 626.2K.
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Motif Bio Plc is a clinical stage biopharmaceutical company, which engages in the development and commercialization of pharmaceutical formulations. The company focuses on developing novel antibiotics designed to be effective against serious and life-threatening infections caused by multi-drug resistant bacteria.
