Zacks Investment Research upgraded shares of Neon Therapeutics (NASDAQ:NTGN) from a hold rating to a buy rating in a research report sent to investors on Thursday, Zacks.com reports. They currently have $3.00 price target on the stock.
According to Zacks, “Neon Therapeutics Inc. is a clinical-stage immuno-oncology company. It engaged in developing neoantigen-based therapeutics for the treatment of cancer by directing the immune system. The company’s product pipeline consists of NEO-PV-01, NEO-PTC-01 and NEO-SV-01 which are in clinical stage. Neon Therapeutics Inc. is based in Cambridge, United States. “
A number of other equities research analysts also recently commented on the company. Mizuho set a $21.00 price objective on Neon Therapeutics and gave the company a buy rating in a report on Monday, July 1st. Morgan Stanley dropped their price objective on Neon Therapeutics from $19.00 to $13.00 and set an overweight rating for the company in a report on Tuesday, July 16th. Robert W. Baird started coverage on Neon Therapeutics in a report on Thursday, July 25th. They issued an outperform rating and a $15.00 price objective for the company. ValuEngine upgraded Neon Therapeutics from a hold rating to a buy rating in a report on Thursday, August 1st. Finally, HC Wainwright reiterated a buy rating and issued a $12.00 price objective on shares of Neon Therapeutics in a report on Monday. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of Buy and an average target price of $14.14.
Neon Therapeutics (NASDAQ:NTGN) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.79) EPS for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.01). As a group, equities research analysts predict that Neon Therapeutics will post -2.55 earnings per share for the current fiscal year.
A number of large investors have recently bought and sold shares of the business. Morgan Stanley grew its stake in Neon Therapeutics by 10.8% in the second quarter. Morgan Stanley now owns 40,522 shares of the company’s stock valued at $192,000 after acquiring an additional 3,939 shares during the period. Bank of America Corp DE grew its stake in Neon Therapeutics by 42.7% in the fourth quarter. Bank of America Corp DE now owns 21,712 shares of the company’s stock valued at $109,000 after acquiring an additional 6,493 shares during the period. Marshall Wace North America L.P. acquired a new position in Neon Therapeutics in the first quarter valued at about $49,000. Rhumbline Advisers acquired a new position in Neon Therapeutics in the first quarter valued at about $78,000. Finally, Northern Trust Corp grew its stake in Neon Therapeutics by 8.5% in the second quarter. Northern Trust Corp now owns 166,467 shares of the company’s stock valued at $789,000 after acquiring an additional 12,971 shares during the period. 67.10% of the stock is owned by hedge funds and other institutional investors.
Neon Therapeutics Company Profile
Neon Therapeutics, Inc, a clinical-stage immuno-oncology company, engages in developing neoantigen-targeted therapies for cancers in the United States. It is developing NEO-PV-01, a neoantigen vaccine that is in Phase Ib clinical trial in combination with nivolumab for the treatment of metastatic melanoma, non-small cell lung cancer, and bladder cancer; NEO-PTC-01, a neoantigen T cell therapy for the treatment of solid tumors; and NEO-SV-01, a neoantigen vaccine for the treatment of estrogen-receptor-positive breast cancer.
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