Matinas BioPharma (MTNB) Receives a Buy from H.C. Wainwright

By Jason Carr

H.C. Wainwright analyst Andrew Fein reiterated a Buy rating on Matinas BioPharma (MTNBResearch Report) today and set a price target of $4. The company’s shares closed last Monday at $0.71.

Fein noted:

“Our price target of $4/share is based on an equally weighted composite of: (a) $2.47/share, as a 35x multiple of taxed and diluted 2033 EPS of $0.67 discounted back to 2019 at 18%; and (b) an NPV discounted cash flow between 2019-2033 of $4.81/share, with a discount rate of 12% and growth rate of 2%. These assumptions are in-line with the expected PE multiple and discount rates of an early development-stage biopharmaceutical company.”

According to TipRanks.com, Fein is a 3-star analyst with an average return of 0.7% and a 41.6% success rate. Fein covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals Inc, DBV Technologies SA – American, and Proteostasis Therapeutics Inc.

Matinas BioPharma has an analyst consensus of Strong Buy, with a price target consensus of $4.

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The company has a one-year high of $1.50 and a one-year low of $0.36. Currently, Matinas BioPharma has an average volume of 712.9K.

Based on the recent corporate insider activity of 24 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 MTNB in relation to earlier this year.

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Matinas BioPharma Holdings, Inc. is a clinical-stage biopharmaceutical company, which focuses 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 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.