Moleculin Biotech (NASDAQ:MBRX) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Friday, Zacks.com reports. The brokerage presently has a $0.75 price target on the stock. Zacks Investment Research‘s target price points to a potential upside of 20.97% from the stock’s previous close.
According to Zacks, “Moleculin Biotech, Inc. is a preclinical and clinical-stage pharmaceutical company which focused on the development of anti-cancer drug candidates. The company’s lead product candidate is Annamycin, a Phase II clinical stage anthracycline for the treatment of relapsed or refractory acute myeloid leukemia. Moleculin Biotech, Inc. is based in Houston, TX. “
Separately, ValuEngine raised Moleculin Biotech from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Moleculin Biotech has a consensus rating of “Buy” and a consensus target price of $1.92.
Moleculin Biotech (NASDAQ:MBRX) last released its earnings results on Thursday, March 19th. The company reported ($0.08) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.03. On average, research analysts anticipate that Moleculin Biotech will post -0.41 earnings per share for the current year.
A hedge fund recently bought a new stake in Moleculin Biotech stock. Millennium Management LLC bought a new position in Moleculin Biotech Inc (NASDAQ:MBRX) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 213,798 shares of the company’s stock, valued at approximately $237,000. Millennium Management LLC owned approximately 0.47% of Moleculin Biotech at the end of the most recent quarter. 10.20% of the stock is owned by institutional investors.
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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