Stealth Biotherapeutics Corp (MITO) Gets a Buy Rating from BMO Capital

By Ryan Adsit

BMO Capital analyst Matthew Luchini maintained a Buy rating on Stealth Biotherapeutics Corp (MITOResearch Report) today and set a price target of $29. The company’s shares opened today at $14.70.

According to TipRanks.com, Luchini is a 1-star analyst with an average return of -4.3% and a 33.3% success rate. Luchini covers the Healthcare sector, focusing on stocks such as Nightstar Therapeutics Limited, Spark Therapeutics, and Ra Pharmaceuticals.

Currently, the analyst consensus on Stealth Biotherapeutics Corp is a Strong Buy with an average price target of $25.75, implying a 75.2% upside from current levels. In a report issued on March 12, Nomura also initiated coverage with a Buy rating on the stock with a $23 price target.

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Based on Stealth Biotherapeutics Corp’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $40.39 million. In comparison, last year the company had a GAAP net loss of $18.54 million.

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Stealth BioTherapeutics Corp. is a clinical-stage biotechnology company, which engages in the discovery, development, and commercialization of therapies for diseases involving mitochondrial dysfunction. The company was founded on April 3, 2006 and is headquartered in Newton, MA.