In a report issued on December 16, Michael Morabito from Chardan Capital initiated coverage with a Buy rating on CohBar (CWBR) and a price target of $3.00. The company’s shares closed last Tuesday at $1.33, close to its 52-week low of $0.85.
According to TipRanks.com, Morabito is a 1-star analyst with an average return of -2.3% and a 44.4% success rate. Morabito covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals, NGM Biopharmaceuticals, and Viking Therapeutics.
Currently, the analyst consensus on CohBar is a Strong Buy with an average price target of $5.17.
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Based on CohBar’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $3.24 million. In comparison, last year the company had a GAAP net loss of $3.35 million.
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CohBar, Inc. engages in the research and development of mitochondria-based therapeutics. It focuses on treatments of diseases, which include diabetes, obesity, fatty liver disease and non-alcoholic steatohepatitis, cancer, Alzheimer’s disease, and atherosclerosis. The company was founded by Nir Barzilai, Pinchas Cohen, David Sinclair, John Amatruda, and Laura Cobb on October 19, 2007 and is headquartered in Pasadena, CA.
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