B.Riley Financial analyst Mayank Mamtani initiated coverage with a Buy rating on Frequency Therapeutics (FREQ – Research Report) today and set a price target of $79.00. The company’s shares closed last Monday at $31.66.
According to TipRanks.com, Mamtani is a 5-star analyst with an average return of 39.4% and a 56.8% success rate. Mamtani covers the Healthcare sector, focusing on stocks such as Arrowhead Pharmaceuticals, Madrigal Pharmaceuticals, and Spectrum Pharmaceuticals.
Currently, the analyst consensus on Frequency Therapeutics is a Moderate Buy with an average price target of $63.50, implying a 108.0% upside from current levels. In a report issued on December 15, Oppenheimer also assigned a Buy rating to the stock with a $48.00 price target.
Frequency Therapeutics’ market cap is currently $1.08B and has a P/E ratio of -13.80. The company has a Price to Book ratio of 5.43.
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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.