Bellerophon (BLPH) Receives a Buy from Maxim Group

By Ryan Adsit

Maxim Group analyst Jason McCarthy maintained a Buy rating on Bellerophon (BLPHResearch Report) yesterday and set a price target of $2. The company’s shares opened today at $0.66, close to its 52-week low of $0.53.

McCarthy noted:

“Bellerophon reported 2Q19 with a net loss of ($4.1M) and $16.8M in cash on the balance sheet. At the current burn rate of ~$4M-$5M per quarter, the company should be funded through 1H20 and importantly through the next infection point; Cohort-2 data in PH-ILD expected by YE19.”

According to TipRanks.com, McCarthy is ranked 0 out of 5 stars with an average return of -24.3% and a 21.1% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Hancock Jaffe Laboratories Inc, Aridis Pharmaceuticals Inc, and Achieve Life Sciences Inc.

Bellerophon has an analyst consensus of Moderate Buy, with a price target consensus of $2.50, representing a 277.8% upside. In a report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $3 price target.

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Based on Bellerophon’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $795K. In comparison, last year the company had a GAAP net loss of $11.47 million.

Based on the recent corporate insider activity of 26 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BLPH in relation to earlier this year.

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Bellerophon Therapeutics, Inc. is a clinical-stage therapeutics company, which focuses on developing innovative products at the intersection of drugs and devices that address significant unmet medical needs in the treatment of cardiopulmonary diseases.