In a report released today, Sara Nik from H.C. Wainwright reiterated a Buy rating on Moleculin Biotech, with a price target of $4.00.
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Sara Nik’s rating is based on several promising developments surrounding Moleculin Biotech’s lead asset, annamycin. The company is advancing annamycin through a Phase 3 trial, known as the MIRACLE study, for treating relapsed or refractory acute myeloid leukemia (r/r AML). The initial data from this study, expected by the end of 2025, could be pivotal if it shows strong efficacy and safety, potentially leading to a rolling New Drug Application process.
Sara Nik also highlights the promising preclinical data presented by Moleculin Biotech, which demonstrates annamycin’s potential efficacy in treating various liver cancers. This expands the drug’s potential applications beyond AML, addressing broader oncology indications with high unmet needs. The favorable cardiotoxicity profile of annamycin further strengthens its potential as a therapeutic agent, supporting the Buy rating.
Based on the recent corporate insider activity of 7 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MBRX in relation to earlier this year.