In a report released yesterday, Jason McCarthy from Maxim Group maintained a Buy rating on Moleculin Biotech (MBRX), with a price target of $3. The company’s shares closed last Monday at $1.15, close to its 52-week low of $0.78.
McCarthy commented:
“Moleculin reported 2Q19 (on 8/16) with operating expenses of $3.6M offset by a $2.4M non-cash item (fair value of warrant liability) for a net loss ($1.2M). The company ended the period with $18.7M in cash on the balance sheet, runway into 2H20.”
According to TipRanks.com, McCarthy is ranked 0 out of 5 stars with an average return of -20.7% and a 25.5% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Lineage Cell Therapeutics, Inc., Hancock Jaffe Laboratories Inc, and Aridis Pharmaceuticals Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Moleculin Biotech.
See today’s analyst top recommended stocks >>
Based on Moleculin Biotech’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $1.22 million. In comparison, last year the company had a GAAP net loss of $5.13 million.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
