Translate Bio Inc (TBIO) Gets a Buy Rating from H.C. Wainwright

By Ryan Adsit

H.C. Wainwright analyst Andrew Fein reiterated a Buy rating on Translate Bio Inc (TBIOResearch Report) today and set a price target of $21. The company’s shares closed yesterday at $8.02.

Fein wrote:

“Valuation and risks to achievement of target price. Our price target of $21/share is based on an equally-weighted composite of: (a) $16.9/share, as a 35x multiple of taxed and diluted $4.33 discounted back to FY19 at 18% (in line with the expected PE multiple and discount rate of an early development-stage biotechnology company); and (b) an NPV of $25.6/ share (discounted cash flow analysis using a 12% discount rate and 3.5% growth rate, in line with the expected discount and growth parameters of an early development-stage biotechnology company).”

According to TipRanks.com, Fein is a 2-star analyst with an average return of 0.2% and a 39.2% success rate. Fein covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals Inc, ACADIA Pharmaceuticals Inc, and Strongbridge Biopharma Plc.

Currently, the analyst consensus on Translate Bio Inc is a Strong Buy with an average price target of $22, which is a 174.3% upside from current levels. In a report issued on July 22, Jefferies also initiated coverage with a Buy rating on the stock with a $20 price target.

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Based on Translate Bio Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $27.83 million. In comparison, last year the company had a GAAP net loss of $27.5 million.

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Translate Bio, Inc. engages in the research and development of therapeutic drugs. It focuses on developing medicines to treat diseases caused by protein or gene dysfunction. Its lead product candidates include MRT5005 for the treatment of cystic fibrosis; and for the treatment of ornithine transcarbamylase deficiency.