Zacks Investment Research upgraded shares of OXiGENE (OTCMKTS:MATN) from a hold rating to a buy rating in a research note published on Saturday morning. They currently have $0.25 price objective on the biopharmaceutical company’s stock.

According to Zacks, “Mateon Therapeutics, Inc. is a biopharmaceutical company. The Company is focused on the development of vascular disrupting agents for the treatment of cancer. Its product pipeline consists of VDAs-CA4P and OXi4503, which are in preclinical trail stage. Mateon Therapeutics, Inc., formerly known as OXiGENE, Inc., is based in SOUTH SAN FRANCISCO, United States. “

Separately, HC Wainwright set a $1.00 price target on OXiGENE and gave the company a buy rating in a research report on Wednesday.

MATN stock opened at $0.25 on Friday. OXiGENE has a 1-year low of $0.09 and a 1-year high of $0.86.

OXiGENE (OTCMKTS:MATN) last issued its quarterly earnings results on Monday, April 16th. The biopharmaceutical company reported ($0.09) EPS for the quarter. sell-side analysts predict that OXiGENE will post -0.18 EPS for the current year.

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About OXiGENE

Mateon Therapeutics, Inc, a biopharmaceutical company, focuses on the development of vascular disrupting agents for the treatment of cancer in the United States. Its principal clinical stage product includes fosbretabulin tromethamine, a reversible tubulin binding agent, which has completed Phase II clinical trial for treating recurrent ovarian cancer; and in Phase II clinical trial for treating neuroendocrine tumors.

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