In a report released yesterday, Jay Olson from Oppenheimer assigned a Buy rating to Frequency Therapeutics (FREQ – Research Report), with a price target of $48.00. The company’s shares closed last Monday at $44.71.
According to TipRanks.com, Olson is a 3-star analyst with an average return of 3.3% and a 47.4% success rate. Olson covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals, Madrigal Pharmaceuticals, and Crispr Therapeutics AG.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Frequency Therapeutics with a $61.00 average price target, which is a 53.8% upside from current levels. In a report issued on January 20, B.Riley Financial also reiterated a Buy rating on the stock with a $79.00 price target.
Frequency Therapeutics’ market cap is currently $1.32B and has a P/E ratio of -16.70. The company has a Price to Book ratio of 6.59.
Based on the recent corporate insider activity of 44 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FREQ in relation to earlier this year.
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Frequency Therapeutics, Inc. is a clinical-stage biotechnology company. It engages in the development of small molecule drugs that activate progenitor cells within the body to restore healthy tissue. The company was founded by Robert S. Langer, Jr., David L. Lucchino, Christopher Loose and Will J. McLean in November 13, 2014 and is headquartered in Woburn, MA.