In a report released today, Jay Olson from Oppenheimer maintained a Buy rating on Frequency Therapeutics (FREQ – Research Report), with a price target of $36.00. The company’s shares closed last Thursday at $21.46.
According to TipRanks.com, Olson is a 1-star analyst with an average return of -1.4% and a 40.2% success rate. Olson covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals, Madrigal Pharmaceuticals, and ACADIA Pharmaceuticals.
Currently, the analyst consensus on Frequency Therapeutics is a Moderate Buy with an average price target of $35.00.
Based on Frequency Therapeutics’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $8.52 million and GAAP net loss of $6.03 million. In comparison, last year the company had a GAAP net loss of $6.85 million.
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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.