Mustang Bio (MBIO) Receives a Buy from Oppenheimer

In a report released today, Mark Breidenbach from Oppenheimer maintained a Buy rating on Mustang Bio (MBIOResearch Report), with a price target of $16.00. The company’s shares closed last Monday at $3.80.

According to TipRanks.com, Breidenbach is a 4-star analyst with an average return of 8.3% and a 43.8% success rate. Breidenbach covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Iovance Biotherapeutics, and Allogene Therapeutics.

Currently, the analyst consensus on Mustang Bio is a Strong Buy with an average price target of $10.00, a 160.4% upside from current levels. In a report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $7.00 price target.

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Based on Mustang Bio’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $10.17 million. In comparison, last year the company had a GAAP net loss of $11.77 million.

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Mustang Bio, Inc. is a clinical-stage biopharmaceutical company that focuses on the development and commercialization of a broad range of proprietary chimeric antigen receptor engineered T cell (CAR T) immunotherapies and gene therapies.