McCarthy commented:
“Matinas reported 3Q18 with a net loss of ($3.3M) and ended the period with $6.6M in cash, excluding $8.8M brought though controlled equity offering. We are factoring in the MAT9001, following the outcomes data of the REDUCE-IT trial evaluating Amarin’s (AMRN – NR) Vascepa + Statin, and Matinas’ decision to now move MAT9001 forward for hypertriglyceridemia (HTG); raising price target to $5, from $2.”
According to TipRanks.com, McCarthy is a 4-star analyst with an average return of 4.8% and a 37.8% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, ContraVir Pharmaceuticals Inc, and Sonoma Pharmaceuticals Inc.
Currently, the analyst consensus on Matinas BioPharma is a Moderate Buy with an average price target of $5.
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Matinas BioPharma Holdings, Inc. is a clinical-stage biopharmaceutical company focused on enabling the delivery of life-changing medicines using its LNC platform technology. The company’s proprietary, disruptive technology utilizes lipid nano-crystals which can encapsulate small molecule drugs, oligonucleotides, vaccines, peptides, proteins, and other medicines potentially making them safer, more tolerable, less toxic, and orally bioavailable. Its lead anti-fungal product candidate, MAT2203, delivers broad-spectrum fungicidal agent, amphotericin B; and is being developed to prevent invasive fungal infections in patients with acute lymphoblastic leukemia. The company was founded in May 2013 and is headquartered in Bedminster, NJ.