Maxim Group analyst Jason McCarthy assigned a Buy rating to Matinas BioPharma (MTNB – Research Report) yesterday and set a price target of $3.00. The company’s shares closed last Tuesday at $0.70, close to its 52-week low of $0.66.
According to TipRanks.com, McCarthy is a 5-star analyst with an average return of 19.0% and a 31.5% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Reviva Pharmaceuticals Holdings, Brainstorm Cell Therapeutics, and SELLAS Life Sciences Group.
Currently, the analyst consensus on Matinas BioPharma is a Strong Buy with an average price target of $3.00, implying a 316.7% upside from current levels. In a report issued on August 11, H.C. Wainwright also reiterated a Buy rating on the stock with a $3.00 price target.
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Based on Matinas BioPharma’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $4.79 million. In comparison, last year the company had a GAAP net loss of $5.61 million.
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Matinas BioPharma Holdings, Inc. is a clinical-stage biopharmaceutical company, which focuses on enabling the delivery of life-changing medicines using its LNC platform technology. The company’s proprietary, disruptive technology utilizes lipid nano-crystals which can encapsulate small molecule drugs, oligonucleotides, vaccines, peptides, proteins, and other medicines potentially making them safer, more tolerable, less toxic, and orally bioavailable. Its anti-fungal product candidate, MAT2203, delivers broad-spectrum fungicidal agent, amphotericin B; and is being developed to prevent invasive fungal infections in patients with acute lymphoblastic leukemia. The company was founded in May 2013 and is headquartered in Bedminster, NJ.
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