Matinas BioPharma (NYSEAMERICAN:MTNB) issued its earnings results on Tuesday. The company reported ($0.03) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.01, Bloomberg Earnings reports.
Shares of Matinas BioPharma stock opened at $0.71 on Wednesday. Matinas BioPharma has a twelve month low of $0.35 and a twelve month high of $1.50.
In other Matinas BioPharma news, Director Adam K. Stern bought 80,000 shares of the stock in a transaction that occurred on Friday, May 31st. The shares were purchased at an average cost of $0.94 per share, for a total transaction of $75,200.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have bought a total of 187,487 shares of company stock worth $167,290 over the last quarter.
Several equities research analysts have recently weighed in on MTNB shares. HC Wainwright reaffirmed a “buy” rating and issued a $4.00 target price on shares of Matinas BioPharma in a research report on Wednesday. Maxim Group reaffirmed a “buy” rating and issued a $5.00 target price on shares of Matinas BioPharma in a research report on Thursday, May 16th. Zacks Investment Research raised Matinas BioPharma from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, BTIG Research started coverage on Matinas BioPharma in a report on Friday, May 17th. They issued a “buy” rating and a $5.00 price target for the company. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $4.00.
About Matinas BioPharma
Matinas BioPharma Holdings, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of various product candidates. The company enables the delivery of life-changing medicines using its lipid nano-crystal (LNC) platform technology. Its LNC delivery technology platform utilizes lipid nano-crystals which can encapsulate small molecules, oligonucleotides, vaccines, peptides, proteins and other medicines potentially making them safer, more tolerable, less toxic, and orally bioavailable.
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