Oppenheimer Issues a Buy Rating on Frequency Therapeutics (FREQ)
Oppenheimer analyst Jay Olson assigned a Buy rating to Frequency Therapeutics (FREQ) today and set a price target of $20.00. The company’s shares closed last Tuesday at $7.99.
According to TipRanks.com, Olson is a 4-star analyst with an average return of 6.2% and a 48.6% success rate. Olson covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals, Madrigal Pharmaceuticals, and Enanta Pharmaceuticals.
Currently, the analyst consensus on Frequency Therapeutics is a Strong Buy with an average price target of $37.00, which is a 272.3% upside from current levels. In a report released today, B.Riley Financial also maintained a Buy rating on the stock with a $35.00 price target.
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Based on Frequency Therapeutics’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $11.25 million and GAAP net loss of $5.34 million. In comparison, last year the company earned revenue of $24.24 million and had a GAAP net loss of $575K.
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Frequency Therapeutics, Inc. is a clinical-stage biotechnology company. It engages in the development of small molecule drugs that activate progenitor cells within the body to restore healthy tissue. The company was founded by Robert S. Langer, Jr., David L. Lucchino, Christopher Loose and Will J. McLean in November 13, 2014 and is headquartered in Woburn, MA.