In a report released yesterday, Jason McCarthy from Maxim Group assigned a Buy rating to Moleculin Biotech (MBRX), with a price target of $3.00. The company’s shares closed last Friday at $0.82.
According to TipRanks.com, McCarthy is a 5-star analyst with an average return of 26.8% and a 47.9% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Appili Therapeutics Inc Class A, Brainstorm Cell Therapeutics, and Interpace Diagnostics Group.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Moleculin Biotech with a $2.50 average price target, representing a 194.1% upside. In a report issued on November 15, Oppenheimer also maintained a Buy rating on the stock with a $2.00 price target.
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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 $3.4 million. In comparison, last year the company had a GAAP net loss of $4.15 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. The company’s preclinical small molecule portfolios focus on the modulation of hard-to-target tumor cell signaling mechanisms and the metabolism of tumors. Moleculin Biotech was founded by Walter V. Klemp, Donald H. Picker and Waldemar Priebe on July 28, 2015 and is headquartered in Houston, TX.
