Cowen & Co. Remains a Buy on Magenta Therapeutics (MGTA)

By Carrie Williams

In a report released today, Marc Frahm from Cowen & Co. maintained a Buy rating on Magenta Therapeutics (MGTAResearch Report). The company’s shares closed last Monday at $13.29.

According to, Frahm is a 4-star analyst with an average return of 6.2% and a 63.1% success rate. Frahm covers the Healthcare sector, focusing on stocks such as Adaptimmune Therapeutics, Allogene Therapeutics, and Odonate Therapeutics.

Currently, the analyst consensus on Magenta Therapeutics is a Moderate Buy with an average price target of $19.00, which is a 35.8% upside from current levels. In a report issued on December 6, BTIG also initiated coverage with a Buy rating on the stock with a $20.00 price target.

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Based on Magenta Therapeutics’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $20.99 million. In comparison, last year the company had a GAAP net loss of $16.02 million.

Based on the recent corporate insider activity of 18 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MGTA in relation to earlier this year.

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Magenta Therapeutics, Inc. is a clinical-stage biotechnology company, which engages in the development of novel medicines for bone marrow transplants. It offers platform that focuses on critical areas of transplant medicine.