After Oppenheimer and H.C. Wainwright gave Mustang Bio (NASDAQ: MBIO) a Buy rating last month, the company received another Buy, this time from B.Riley Financial. Analyst Justin Zelin reiterated a Buy rating on Mustang Bio today and set a price target of $9.00. The company’s shares closed last Tuesday at $2.77.
According to TipRanks.com, Zelin is a 1-star analyst with an average return of -17.8% and a 0.0% success rate. Zelin covers the Healthcare sector, focusing on stocks such as Abeona Therapeutics, Krystal Biotech, and Heat Biologics.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Mustang Bio with a $9.67 average price target, representing a 249.1% upside. In a report issued on October 26, H.C. Wainwright also maintained a Buy rating on the stock with a $7.00 price target.
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Based on Mustang Bio’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $14.6 million. In comparison, last year the company had a GAAP net loss of $10.4 million.
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Mustang Bio, Inc. is a clinical-stage biopharmaceutical company that focuses on the development and commercialization of a broad range of proprietary chimeric antigen receptor engineered T cell (CAR T) immunotherapies and gene therapies. It develops CAR T and CRISPR/Cas9-enhanced CAR T therapies across multiple cancers, as well as lentiviral gene therapy for XSCID. The firm’s products include MB-101 IL13Ra2-specific CAR, MB-102 CD123 CAR, MB-103 HER2 CAR, MB-104 CS1 CAR, MB-105 PSCA CAR, MB-106 CD20 CAR, MB-107 XSCID Gene Therapy and Oncolytic Virus (C134). The company was founded on March 13, 2015 and is headquartered in New York, NY.