Matinas BioPharma Receives a Buy from Maxim Group

By Carrie Williams

Maxim Group analyst Jason McCarthy reiterated a Buy rating on Matinas BioPharma (NASDAQ: MTNB) today and set a price target of $6. The company’s shares opened today at $1.55, close to its 52-week high of $3.99.

McCarthy commented:

“Summary Matinas stock is down sharply today on news that MAT2203’s efficacy in VVC (vulvovaginal candidiasis) fell well below expectations both internal and external, but wait a second…Was it ever supposed to compare?.”

According to TipRanks.com, McCarthy is ranked 0 out of 5 stars with an average return of -10.2% and a 33.7% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as ImmunoCellular Therapeutics, Mateon Therapeutics Inc, and Soleno Therapeutics Inc.

Matinas BioPharma has an analyst consensus of Moderate Buy, with a price target consensus of $6.

Based on Matinas BioPharma’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $14.97K and GAAP net loss of $21.24 million. In comparison, last year the company earned revenue of $0 and had a GAAP net loss of $2.24 million.

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Matinas BioPharma Holdings, Inc. is a clinical-stage biopharmaceutical company that engages in the development off innovative anti-infective for orphan indications. Its pipeline develops fungal infections, vulvovaginal candidiasis, tolerability in hematologic malignancy, gram-negative bacterial infections, chronic and acute bacterial infections formulations. The company was founded in May 2013 and is headquartered in Bedminster, NJ.