Microbot Medical (NASDAQ:MBOT)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a research report issued on Wednesday, AnalystRatings.com reports. They currently have a $10.00 target price on the biotechnology company’s stock. HC Wainwright’s target price would indicate a potential upside of 56.49% from the company’s previous close.
The analysts wrote, “Our price target is derived from an estimated market value of the firm at $60M, which includes a discounted cash flow (DCF)-based asset value of SCS, assuming 60% probability of approval, 20% discount rate and 2% terminal growth rate.””
Separately, ValuEngine lowered Microbot Medical from a “buy” rating to a “hold” rating in a report on Tuesday.
Microbot Medical (NASDAQ:MBOT) last released its quarterly earnings results on Wednesday, August 14th. The biotechnology company reported ($0.36) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.45) by $0.09. As a group, analysts forecast that Microbot Medical will post -1.33 earnings per share for the current year.
A number of large investors have recently made changes to their positions in MBOT. Geode Capital Management LLC acquired a new stake in Microbot Medical in the fourth quarter valued at about $38,000. JPMorgan Chase & Co. acquired a new stake in Microbot Medical in the second quarter valued at about $45,000. Renaissance Technologies LLC lifted its position in Microbot Medical by 5.5% in the second quarter. Renaissance Technologies LLC now owns 206,887 shares of the biotechnology company’s stock valued at $1,065,000 after purchasing an additional 10,838 shares during the period. BlackRock Inc. lifted its position in Microbot Medical by 5.7% in the second quarter. BlackRock Inc. now owns 183,520 shares of the biotechnology company’s stock valued at $945,000 after purchasing an additional 9,906 shares during the period. Finally, Morgan Stanley lifted its position in shares of Microbot Medical by 77.0% during the 2nd quarter. Morgan Stanley now owns 6,316 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 2,748 shares during the period. Hedge funds and other institutional investors own 14.79% of the company’s stock.
Microbot Medical Company Profile
Microbot Medical Inc, a pre-clinical medical device company, researches, designs, and develops micro-robotics assisted medical technologies targeting the minimally invasive surgery space. The company, through its ViRob and TipCAT micro-robotic technologies, is developing two product candidates, including the Self Cleaning Shunt for the treatment of hydrocephalus and normal pressure hydrocephalus; and a self-propelling, semi-disposable endoscope, which is used in colonoscopy procedures.
Further Reading: Equal Weight Rating
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