BTIG analyst Robert Hazlett reiterated a Buy rating on Matinas BioPharma (MTNB – Research Report) on July 12 and set a price target of $3.00. The company’s shares closed last Wednesday at $0.82.
According to TipRanks.com, Hazlett is a 3-star analyst with an average return of 1.9% and a 37.4% success rate. Hazlett covers the Healthcare sector, focusing on stocks such as Nektar Therapeutics, Axsome Therapeutics, and Seelos Therapeutics.
Currently, the analyst consensus on Matinas BioPharma is a Strong Buy with an average price target of $3.00.
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Based on Matinas BioPharma’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $5.98 million. In comparison, last year the company earned revenue of $33.33K and had a GAAP net loss of $4.96 million.
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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.
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