Neon Therapeutics Inc (NTGN) Receives a Buy from H.C. Wainwright

By Jason Carr

In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Neon Therapeutics Inc (NTGNResearch Report), with a price target of $12. The company’s shares closed last Monday at $2.62, close to its 52-week low of $2.23.

Selvaraju commented:

“Our assessment is driven by a discounted cash flow (DCF)-based approach, which utilizes a 10% discount rate, 1.0% terminal growth rate, and 30% probability of approval for NEO-PV-01 in front-line melanoma, NSCLC, and bladder cancer. We assume a 29% effective tax rate.”

According to TipRanks.com, Selvaraju ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -4.5% and a 35.3% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Taro Pharmaceutical Industries Ltd., Biospecifics Technologies Corp, and Stealth Biotherapeutics Corp.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Neon Therapeutics Inc with a $19.20 average price target, which is a 605.9% upside from current levels. In a report issued on September 5, Morgan Stanley also initiated coverage with a Buy rating on the stock with a $13 price target.

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The company has a one-year high of $12.69 and a one-year low of $2.23. Currently, Neon Therapeutics Inc has an average volume of 521K.

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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.