JonesTrading Reaffirms Their Buy Rating on Neon Therapeutics (NTGN)

By Austin Angelo

In a report released today, Soumit Roy from JonesTrading reiterated a Buy rating on Neon Therapeutics (NTGNResearch Report), with a price target of $30.00. The company’s shares closed last Monday at $2.00, close to its 52-week low of $1.61.

According to TipRanks.com, Roy is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -16.5% and a 33.8% success rate. Roy covers the Healthcare sector, focusing on stocks such as Aeglea Biotherapeutics, Mirati Therapeutics, and Surface Oncology.

Currently, the analyst consensus on Neon Therapeutics is a Strong Buy with an average price target of $19.00, which is an 826.8% upside from current levels. In a report released today, Mizuho Securities also maintained a Buy rating on the stock with a $21.00 price target.

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Based on Neon Therapeutics’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $21.93 million. In comparison, last year the company had a GAAP net loss of $18.39 million.

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Neon Therapeutics, Inc. develops novel therapeutics leveraging neoantigen biology to treat cancer. It offers NEO-PV-01, a personalized neoantigen vaccine that builds upon initial clinical trials.