HC Wainwright reaffirmed their buy rating on shares of Matinas BioPharma (NYSEAMERICAN:MTNB) in a research report sent to investors on Wednesday morning, AnalystRatings.com reports. HC Wainwright 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 commented.
MTNB has been the topic of several other research reports. Maxim Group reaffirmed a buy rating and set a $5.00 price target on shares of Matinas BioPharma in a research report on Thursday, May 16th. Zacks Investment Research raised Matinas BioPharma from a sell rating to a hold rating in a report on Wednesday, July 17th. Finally, BTIG Research started coverage on shares of Matinas BioPharma in a research report on Friday, May 17th. They set a buy rating and a $5.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $4.00.
Matinas BioPharma (NYSEAMERICAN:MTNB) last issued its earnings results on Tuesday, August 13th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.01. The business had revenue of $0.09 million for the quarter, compared to analyst estimates of $0.06 million.
In other Matinas BioPharma news, Director Adam K. Stern bought 80,000 shares of Matinas BioPharma stock in a transaction dated Friday, May 31st. The stock was acquired at an average cost of $0.94 per share, with a total value of $75,200.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders bought 162,487 shares of company stock valued at $143,290 over the last ninety days.
Several institutional investors have recently modified their holdings of MTNB. BlackRock Inc. increased its stake in shares of Matinas BioPharma by 147.1% during the fourth quarter. BlackRock Inc. now owns 290,589 shares of the company’s stock worth $173,000 after acquiring an additional 173,005 shares during the period. Northern Trust Corp increased its stake in shares of Matinas BioPharma by 18.9% during 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 during the period. D. E. Shaw & Co. Inc. acquired a new position in shares of Matinas BioPharma during the fourth quarter worth about $26,000. Virtu Financial LLC increased its stake in shares of Matinas BioPharma by 80.0% during the first quarter. Virtu Financial LLC now owns 116,636 shares of the company’s stock worth $127,000 after acquiring an additional 51,853 shares during the period. Finally, Brighton Jones LLC acquired a new position in shares of Matinas BioPharma during the first quarter worth about $55,000.
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.
Further Reading: What is Green Investing?
Receive News & Ratings for Matinas BioPharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Matinas BioPharma and related companies with MarketBeat.com's FREE daily email newsletter.