Shares of MiNK Therapeutics (NASDAQ: INKT) received positive news over the weekend when Wall Street Zen upgraded the company’s stock from a sell rating to a hold rating. This decision reflects a shift in sentiment among analysts regarding the biopharmaceutical company, which specializes in developing innovative therapies for cancer and other immune-mediated diseases.
Several brokerages have recently revised their ratings for MiNK Therapeutics, demonstrating a varied outlook among financial analysts. On August 15, 2023, HC Wainwright elevated its assessment from neutral to buy, setting a target price of $35.00 for the stock. Conversely, Weiss Ratings reaffirmed a sell rating with a grade of D- on October 8, 2023. Additionally, Zacks Research upgraded MiNK Therapeutics from a strong sell to a hold rating on October 20, 2023.
Analyst Ratings and Market Performance
The investment landscape for MiNK Therapeutics appears mixed. Currently, one analyst has assigned a strong buy rating, another has a buy rating, while two have opted for hold ratings and one has a sell rating. According to data from MarketBeat, the average analyst rating for the stock stands at hold, alongside an average target price of $35.00.
In terms of recent financial performance, MiNK Therapeutics reported its quarterly earnings results on November 14, 2023. The company posted earnings per share of ($0.65), surpassing analysts’ consensus estimates of ($0.86) by $0.21. Analysts forecast that MiNK Therapeutics will post an earnings per share of ($2.75) for the current year, indicating ongoing challenges as the company navigates its clinical stage.
Company Overview and Future Prospects
MiNK Therapeutics, Inc. is engaged in the discovery, development, and commercialization of allogeneic, off-the-shelf, invariant natural killer T (iNKT) cell therapies. The company’s lead product candidate, AGENT-797, is currently in Phase 1 clinical trials aimed at treating various myeloma diseases and solid tumors. As the company progresses in its clinical trials, investor sentiment and analyst ratings may continue to evolve.
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