Moleculin Biotech (NASDAQ:MBRX) Raised to Buy at Maxim Group

Moleculin Biotech (NASDAQ:MBRX) was upgraded by equities researchers at Maxim Group from a “hold” rating to a “buy” rating in a report released on Tuesday,Benzinga reports. The brokerage presently has a $4.00 price objective on the stock. Maxim Group’s price target would suggest a potential upside of 277.36% from the company’s previous close.

A number of other research firms also recently commented on MBRX. StockNews.com began coverage on shares of Moleculin Biotech in a report on Thursday, March 13th. They issued a “sell” rating for the company. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 price target on shares of Moleculin Biotech in a report on Monday.

Moleculin Biotech Stock Performance

Shares of NASDAQ MBRX opened at $1.06 on Tuesday. The stock’s 50 day moving average price is $1.34 and its two-hundred day moving average price is $2.01. Moleculin Biotech has a 52-week low of $0.40 and a 52-week high of $6.23.

Moleculin Biotech Company Profile

Moleculin Biotech, Inc, a clinical stage pharmaceutical company, focuses on the development of drug candidates for the treatment of cancers and viruses. Its lead drug candidate is Annamycin, which is in Phase 1B/2 clinical trials for the treatment of relapsed or refractory acute myeloid leukemia (AML) and soft tissue sarcoma metastasized to the lungs.