Chardan Capital Thinks NeuBase Therapeutics’ Stock is Going to Recover

Chardan Capital analyst Keay Nakae reiterated a Buy rating on NeuBase Therapeutics (NBSEResearch Report) today and set a price target of $18.00. The company’s shares closed last Tuesday at $5.19, close to its 52-week low of $4.51.

According to TipRanks.com, Nakae is a 5-star analyst with an average return of 25.3% and a 50.2% success rate. Nakae covers the Healthcare sector, focusing on stocks such as Lineage Cell Therapeutics, Arrowhead Pharmaceuticals, and Adverum Biotechnologies.

NeuBase Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $16.00, implying a 203.0% upside from current levels. In a report issued on June 1, H.C. Wainwright also reiterated a Buy rating on the stock with a $15.00 price target.

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Based on NeuBase Therapeutics’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $5.52 million. In comparison, last year the company had a GAAP net loss of $4.38 million.

Based on the recent corporate insider activity of 6 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 NBSE in relation to earlier this year.

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NeuBase Therapeutics, Inc. engages in the development of drugs for patients with genetic neurological disorder. Its pipelines include Huntington’s Disease, NT0100 Program – PATrOL Enabled gamma-PNA for Huntington’s Disease, and NT0200 Program- PATrOL Enabled gamma-PNA for Myotonic Dystophy. The company was founded by Dietrich A. Stephan on August 28, 2018 and is headquartered in Pittsburgh, PA.