In a report released yesterday, Jason McCarthy from Maxim Group assigned a Buy rating to Matinas BioPharma (MTNB – Research Report), with a price target of $3.00. The company’s shares closed last Friday at $0.80, close to its 52-week low of $0.49.
According to TipRanks.com, McCarthy is a 5-star analyst with an average return of 27.5% and a 50.1% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Appili Therapeutics Inc Class A, Brainstorm Cell Therapeutics, and Interpace Diagnostics Group.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Matinas BioPharma with a $2.93 average price target, which is a 264.0% upside from current levels. In a report issued on November 9, H.C. Wainwright also reiterated a Buy rating on the stock with a $4.00 price target.
The company has a one-year high of $2.49 and a one-year low of $0.49. Currently, Matinas BioPharma has an average volume of 1.6M.
Based on the recent corporate insider activity of 24 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 MTNB in relation to earlier this year.
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Matinas BioPharma Holdings, Inc. is a clinical-stage biopharmaceutical company, which focuses on enabling the delivery of life-changing medicines using its LNC platform technology. The company’s proprietary, disruptive technology utilizes lipid nano-crystals which can encapsulate small molecule drugs, oligonucleotides, vaccines, peptides, proteins, and other medicines potentially making them safer, more tolerable, less toxic, and orally bioavailable. Its anti-fungal product candidate, MAT2203, delivers broad-spectrum fungicidal agent, amphotericin B; and is being developed to prevent invasive fungal infections in patients with acute lymphoblastic leukemia. The company was founded in May 2013 and is headquartered in Bedminster, NJ.