Neon Therapeutics (NASDAQ:NTGN) Upgraded to “Buy” by Zacks Investment Research

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.

NASDAQ NTGN remained flat at $$2.42 on Thursday. The company had a trading volume of 1,947 shares, compared to its average volume of 1,279,423. The company has a 50 day moving average of $2.70 and a 200 day moving average of $4.65. The company has a market capitalization of $68.68 million, a PE ratio of -0.44 and a beta of 1.57. The company has a debt-to-equity ratio of 0.12, a quick ratio of 6.13 and a current ratio of 6.13. Neon Therapeutics has a fifty-two week low of $2.23 and a fifty-two week high of $12.69.

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.

Featured Story: Convertible Shares

Get a free copy of the Zacks research report on Neon Therapeutics (NTGN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Neon Therapeutics (NASDAQ:NTGN)

Receive News & Ratings for Neon Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Neon Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit