In a report released today, Mayank Mamtani from B.Riley Financial reiterated a Buy rating on Frequency Therapeutics (FREQ – Research Report), with a price target of $21.00. The company’s shares closed last Friday at $8.62, close to its 52-week low of $7.34.
According to TipRanks.com, Mamtani is a 5-star analyst with an average return of 18.5% and a 46.7% success rate. Mamtani covers the Healthcare sector, focusing on stocks such as Arrowhead Pharmaceuticals, Spectrum Pharmaceuticals, and Madrigal Pharmaceuticals.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Frequency Therapeutics with a $14.50 average price target, implying a 77.7% upside from current levels. In a report released yesterday, Goldman Sachs also maintained a Buy rating on the stock with a $12.00 price target.
Frequency Therapeutics’ market cap is currently $275.5M and has a P/E ratio of -12.30. The company has a Price to Book ratio of 1.80.
Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of FREQ in relation to earlier this year.
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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.