HC Wainwright reaffirmed their buy rating on shares of Neon Therapeutics (NASDAQ:NTGN) in a report published on Monday morning, AnalystRatings.com reports. They currently have a $12.00 target price on the stock.
“Our assessment is driven by a discounted cash flow (DCF)-based approach, which utilizes a 10% discount rate, 1.0% terminal growth rate, and 30% probability of approval for NEO-PV-01 in front-line melanoma, NSCLC, and bladder cancer. We assume a 29% effective tax rate.”,” the firm’s analyst wrote.
Other equities analysts have also issued research reports about the company. ValuEngine raised Neon Therapeutics from a hold rating to a buy rating in a research note on Thursday, August 1st. Morgan Stanley lowered their price objective on Neon Therapeutics from $19.00 to $13.00 and set an overweight rating on the stock in a research note on Tuesday, July 16th. Zacks Investment Research lowered Neon Therapeutics from a buy rating to a hold rating in a research note on Tuesday, July 16th. Mizuho set a $21.00 price objective on Neon Therapeutics and gave the stock a buy rating in a research note on Monday, July 1st. Finally, Robert W. Baird initiated coverage on Neon Therapeutics in a research note on Thursday, July 25th. They set an outperform rating and a $15.00 price objective on the stock. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $14.43.
Neon Therapeutics (NASDAQ:NTGN) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.79) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.78) by ($0.01). As a group, analysts expect that Neon Therapeutics will post -2.55 earnings per share for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Marshall Wace North America L.P. acquired a new position in shares of Neon Therapeutics in the 1st quarter valued at $49,000. Rhumbline Advisers acquired a new position in shares of Neon Therapeutics in the 1st quarter valued at $78,000. Bank of America Corp DE lifted its stake in shares of Neon Therapeutics by 42.7% in the 4th quarter. Bank of America Corp DE now owns 21,712 shares of the company’s stock valued at $109,000 after purchasing an additional 6,493 shares during the last quarter. Westfield Capital Management Co. LP acquired a new position in shares of Neon Therapeutics in the 2nd quarter valued at $149,000. Finally, Morgan Stanley lifted its stake in shares of Neon Therapeutics by 10.8% in the 2nd quarter. Morgan Stanley now owns 40,522 shares of the company’s stock valued at $192,000 after purchasing an additional 3,939 shares during the last quarter. 67.10% of the stock is currently owned by institutional investors.
About Neon Therapeutics
Neon Therapeutics, Inc, a clinical-stage immuno-oncology company, engages in developing neoantigen-targeted therapies for cancers in the United States. It is developing NEO-PV-01, a neoantigen vaccine that is in Phase Ib clinical trial in combination with nivolumab for the treatment of metastatic melanoma, non-small cell lung cancer, and bladder cancer; NEO-PTC-01, a neoantigen T cell therapy for the treatment of solid tumors; and NEO-SV-01, a neoantigen vaccine for the treatment of estrogen-receptor-positive breast cancer.
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