Mizuho Securities Starts Magenta Therapeutics (MGTA) at Buy

Mizuho Securities analyst Defei Yang initiates coverage on Magenta Therapeutics (NASDAQ: MGTA) with a Buy rating and a price target of $16.00.

The analyst comments "Magenta Therapeutics is developing a suite of novel medicines with the potential to change the standard of care for stem cell transplantation procedures across oncology and genetic diseases. We are bullish on the shares ahead of initial Phase 1/2 data expected in 2021 based on encouraging early data in healthy volunteers and animal models which support a differentiated profile vs. standard of care. We see MGTA as a unique company currently under the radar, working towards platform validation in the clinic, with broad potential in the stem cell transplant setting driven by the continued growth of novel cell and gene therapies."

For an analyst ratings summary and ratings history on Magenta Therapeutics click here. For more ratings news on Magenta Therapeutics click here.

Shares of Magenta Therapeutics closed at $7.74 yesterday.

You May Also Be Interested In

• Wedbush Starts Aktis Oncology (AKTS) at Outperform
• Morgan Stanley Downgrades Diamondback Energy (FANG) to Equalweight
• BofA Securities Upgrades Moderna (MRNA) to Neutral