In a report released today, Kalpit Patel from B.Riley Financial maintained a Buy rating on Magenta Therapeutics (MGTA – Research Report), with a price target of $19.00. The company’s shares closed last Wednesday at $8.07.
According to TipRanks.com, Patel is a 1-star analyst with an average return of -6.2% and a 25.0% success rate. Patel covers the Healthcare sector, focusing on stocks such as Allogene Therapeutics, Forte Biosciences, and Infinity Pharma.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Magenta Therapeutics with a $19.20 average price target, a 136.5% upside from current levels. In a report released yesterday, Mizuho Securities also maintained a Buy rating on the stock with a $17.00 price target.
Magenta Therapeutics’ market cap is currently $472.2M and has a P/E ratio of -5.60. The company has a Price to Book ratio of 4.03.
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Magenta Therapeutics, Inc. is a clinical-stage biotechnology company, which engages in the development of novel medicines for bone marrow transplants. It offers platform that focuses on critical areas of transplant medicine. The company was founded by David Scadden, Derrick Rossi, Alan Tyndall, Luigi Naldini, Robert Negrin, John F. Dipersio, and Jason Gardner in June 2015 and is headquartered in Cambridge, MA.