Zacks Investment Research Upgrades Neon Therapeutics (NTGN) to “Buy”

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Zacks Investment Research upgraded shares of Neon Therapeutics (NASDAQ:NTGN) from a hold rating to a buy rating in a research report report published on Thursday. They currently have $6.00 price objective on the stock.

According to Zacks, “Neon Therapeutics Inc. is a clinical-stage immuno-oncology company. It engaged in developing neoantigen-based therapeutics for the treatment of cancer by directing the immune system. The company’s product pipeline consists of NEO-PV-01, NEO-PTC-01 and NEO-SV-01 which are in clinical stage. Neon Therapeutics Inc. is based in Cambridge, United States. “

Separately, ValuEngine downgraded shares of Neon Therapeutics from a buy rating to a hold rating in a research note on Wednesday, January 2nd. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $17.83.

NTGN opened at $5.61 on Thursday. Neon Therapeutics has a 1-year low of $4.20 and a 1-year high of $16.23. The firm has a market capitalization of $168.56 million and a price-to-earnings ratio of -1.01.

Neon Therapeutics (NASDAQ:NTGN) last posted its quarterly earnings results on Monday, March 11th. The company reported ($0.84) earnings per share for the quarter, missing the consensus estimate of ($0.73) by ($0.11). On average, equities research analysts predict that Neon Therapeutics will post -2.66 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC increased its stake in Neon Therapeutics by 1.1% in the fourth quarter. FMR LLC now owns 2,079,669 shares of the company’s stock valued at $10,461,000 after purchasing an additional 23,075 shares in the last quarter. Partner Investment Management L.P. increased its stake in Neon Therapeutics by 32,903.8% in the third quarter. Partner Investment Management L.P. now owns 832,355 shares of the company’s stock valued at $5,841,000 after purchasing an additional 829,833 shares in the last quarter. Pharmstandard International S.A. bought a new stake in Neon Therapeutics in the third quarter valued at $5,027,000. Hillhouse Capital Advisors Ltd. bought a new stake in Neon Therapeutics in the fourth quarter valued at $1,572,000. Finally, BlackRock Inc. increased its position in shares of Neon Therapeutics by 12.0% during the fourth quarter. BlackRock Inc. now owns 307,782 shares of the company’s stock worth $1,548,000 after acquiring an additional 32,943 shares in the last quarter. 72.08% of the stock is owned by hedge funds and other institutional investors.

Neon Therapeutics Company Profile

Neon Therapeutics, Inc, a clinical-stage immuno-oncology company, engages in developing neoantigen-targeted therapies for cancers in the United States. It is developing NEO-PV-01, a neoantigen vaccine that is in Phase Ib clinical trial in combination with nivolumab for the treatment of metastatic melanoma, non-small cell lung cancer, and bladder cancer; NEO-PTC-01, a neoantigen T cell therapy for the treatment of solid tumors; and NEO-SV-01, a neoantigen vaccine for the treatment of estrogen-receptor-positive breast cancer.

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