Moleculin Biotech’s (MBRX) “Buy” Rating Reiterated at Maxim Group

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Maxim Group reiterated their buy rating on shares of Moleculin Biotech (NASDAQ:MBRX) in a report published on Wednesday. The firm currently has a $3.00 price objective on the stock.

“Moleculin announced that it has begun recruiting patients in its second clinical trial of Annamycin for the treatment of relapsed/refractory acute myeloid leukemia. This study is being conducted in Poland. We see this as a positive for the company.”,” Maxim Group’s analyst commented.

Several other equities analysts also recently commented on MBRX. Zacks Investment Research upgraded shares of Moleculin Biotech from a hold rating to a buy rating and set a $1.50 price target on the stock in a research note on Friday, October 19th. ValuEngine raised shares of Moleculin Biotech from a hold rating to a buy rating in a research report on Tuesday, December 11th. Finally, Roth Capital set a $8.00 price objective on shares of Moleculin Biotech and gave the stock a buy rating in a research report on Friday, December 14th.

Shares of MBRX stock traded down $0.06 on Wednesday, hitting $1.38. The company’s stock had a trading volume of 91,086 shares, compared to its average volume of 161,650. Moleculin Biotech has a fifty-two week low of $0.93 and a fifty-two week high of $3.34. The company has a market capitalization of $38.20 million, a PE ratio of -2.94 and a beta of 1.41.

Moleculin Biotech (NASDAQ:MBRX) last released its quarterly earnings results on Tuesday, November 13th. The company reported ($0.08) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.05. On average, equities research analysts anticipate that Moleculin Biotech will post -0.46 earnings per share for the current fiscal year.

About Moleculin Biotech

Moleculin Biotech, Inc, a clinical-stage pharmaceutical company, focuses on the development of oncology drug candidates. Its lead drug candidate is liposomal Annamycin, an anthracycline intended for the treatment of relapsed or refractory acute myeloid leukemia (AML). The company also develops WP1066 Portfolio, an immuno-stimulating STAT3 inhibitor for the treatment of brain tumors, pancreatic cancer, and AML; and WP1122 Portfolio and related molecules for the treatment of glioblastoma multiforme and related central nervous system malignancies.

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