In a report released today, Jason McCarthy from Maxim Group maintained a Buy rating on Moleculin Biotech (MBRX), with a price target of $3. The company’s shares opened today at $1.27.

McCarthy commented:

“Following last month’s clearance to begin its European clinical trial of WP1220 (STAT3 inhibitor) in the topical treatment of cutaneous T-cell lymphoma (CTCL), Moleculin announced that the first two patients have been enrolled.”

According to TipRanks.com, McCarthy is a 1-star analyst with an average return of -0.3% and a 36.6% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Actinium Pharmaceuticals, Inovio Pharmaceuticals, and Vertex Pharmaceuticals.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Moleculin Biotech with a $3 average price target.

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Based on Moleculin Biotech’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $2.79 million. In comparison, last year the company had a GAAP net loss of $3.19 million.

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Moleculin Biotech, Inc. is a clinical stage pharmaceutical company, which focuses on the development of oncology drug candidates. Its Annamycin product candidate helps in the treatment of relapsed or refractory acute myeloid leukemia.