Microbot Medical (NASDAQ:MBOT) Rating Reiterated by HC Wainwright

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.

Shares of NASDAQ MBOT traded up $0.09 during midday trading on Wednesday, reaching $6.39. 810 shares of the company were exchanged, compared to its average volume of 199,295. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 0.02. Microbot Medical has a 1 year low of $1.38 and a 1 year high of $19.40. The stock has a fifty day simple moving average of $5.99 and a 200 day simple moving average of $6.56. The stock has a market cap of $27.57 million, a P/E ratio of -2.60 and a beta of 5.04.

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

Receive News & Ratings for Microbot Medical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Microbot Medical and related companies with MarketBeat.com's FREE daily email newsletter.