In a report released today, 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 $0.89.
According to TipRanks.com, McCarthy is a 5-star analyst with an average return of 11.0% and a 45.1% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Brainstorm Cell Therapeutics, Interpace Diagnostics Group, and SELLAS Life Sciences Group.
Currently, the analyst consensus on Matinas BioPharma is a Moderate Buy with an average price target of $3.50, which is a 280.4% upside from current levels. In a report issued on May 12, H.C. Wainwright also maintained a Buy rating on the stock with a $4.00 price target.
Based on Matinas BioPharma’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $5.05 million. In comparison, last year the company had a GAAP net loss of $4.05 million.
Based on the recent corporate insider activity of 35 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.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.