Matinas BioPharma (NYSEAMERICAN:MTNB) Earns Buy Rating from HC Wainwright
HC Wainwright reissued their buy rating on shares of Matinas BioPharma (NYSEAMERICAN:MTNB) in a research report released on Wednesday morning, AnalystRatings.com reports. The brokerage currently has a $4.00 price objective on the stock.
“Our price target of $4/share is based on an equally weighted composite of: (a) $2.47/share, as a 35x multiple of taxed and diluted 2033 EPS of $0.67 discounted back to 2019 at 18%; and (b) an NPV discounted cash flow between 2019-2033 of $4.81/share, with a discount rate of 12% and growth rate of 2%. These assumptions are in-line with the expected PE multiple and discount rates of an early development-stage biopharmaceutical company.”,” the firm’s analyst wrote.
MTNB has been the topic of a number of other research reports. Zacks Investment Research raised shares of Matinas BioPharma from a sell rating to a hold rating in a research note on Wednesday, July 17th. BTIG Research began coverage on shares of Matinas BioPharma in a research note on Friday, May 17th. They set a buy rating and a $5.00 price target on the stock. Finally, Maxim Group reaffirmed a buy rating and set a $5.00 price target on shares of Matinas BioPharma in a research note on Thursday, May 16th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $4.00.
Matinas BioPharma (NYSEAMERICAN:MTNB) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.01. The firm had revenue of $0.09 million for the quarter, compared to analysts’ expectations of $0.06 million.
In related news, Director Adam K. Stern purchased 80,000 shares of the business’s stock in a transaction on Friday, May 31st. The shares were bought at an average price of $0.94 per share, with a total value of $75,200.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders have acquired 162,487 shares of company stock worth $143,290.
Several institutional investors have recently added to or reduced their stakes in MTNB. D. E. Shaw & Co. Inc. acquired a new stake in shares of Matinas BioPharma in the fourth quarter worth $26,000. IPG Investment Advisors LLC increased its position in shares of Matinas BioPharma by 54.5% in the first quarter. IPG Investment Advisors LLC now owns 42,500 shares of the company’s stock worth $46,000 after acquiring an additional 15,000 shares in the last quarter. Brighton Jones LLC acquired a new stake in shares of Matinas BioPharma in the first quarter worth $55,000. Wells Fargo & Company MN increased its position in shares of Matinas BioPharma by 297.2% in the second quarter. Wells Fargo & Company MN now owns 103,274 shares of the company’s stock worth $88,000 after acquiring an additional 77,274 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Matinas BioPharma by 18.9% in the fourth quarter. Northern Trust Corp now owns 182,641 shares of the company’s stock worth $109,000 after acquiring an additional 29,072 shares in the last quarter.
About Matinas BioPharma
Matinas BioPharma Holdings, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of various product candidates. The company enables the delivery of life-changing medicines using its lipid nano-crystal (LNC) platform technology. Its LNC delivery technology platform utilizes lipid nano-crystals which can encapsulate small molecules, oligonucleotides, vaccines, peptides, proteins and other medicines potentially making them safer, more tolerable, less toxic, and orally bioavailable.
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