Needham Thinks Aeglea Biotherapeutics’ Stock is Going to Recover

Needham analyst Chad Messer reiterated a Buy rating on Aeglea Biotherapeutics (AGLEResearch Report) today and set a price target of $12.00. The company’s shares closed last Thursday at $6.73, close to its 52-week low of $6.15.

According to TipRanks.com, Messer is a 4-star analyst with an average return of 9.0% and a 45.0% success rate. Messer covers the Healthcare sector, focusing on stocks such as Mereo Biopharma Group Plc, Phasebio Pharmaceuticals, and Ionis Pharmaceuticals.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Aeglea Biotherapeutics with a $16.00 average price target, a 141.7% upside from current levels. In a report released today, H.C. Wainwright also maintained a Buy rating on the stock with a $15.00 price target.

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Based on Aeglea Biotherapeutics’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $18.22 million. In comparison, last year the company had a GAAP net loss of $18.73 million.

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Aeglea Biotherapeutics, Inc. operates as a clinical-stage biotechnology company, which develops next-generation human enzyme therapeutics as disruptive solutions for rare and other high-burden diseases. Its product pegzilarginase, is in a Phase 3 pivotal trial for the treatment of Arginase 1 Deficiency. The company was founded by George Georgiou and David G. Lowe in December 2013 and is headquartered in Austin, TX.