Stealth BioTherapeutics (MITO) Rating Increased to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Stealth BioTherapeutics (NASDAQ:MITO) from a hold rating to a buy rating in a research note published on Wednesday morning, Zacks.com reports. They currently have $16.00 price objective on the stock.

According to Zacks, “Stealth BioTherapeutics Corp is a biopharmaceutical company. It is engaged in developing therapies to treat the mitochondrial dysfunction associated with genetic mitochondrial diseases and many common age-related diseases. The company’s product pipeline includes Elamipretide, SBT-20 and SBT-272 which are in clinical stage. Stealth BioTherapeutics Corp is based in Newton, Massachusetts. “

A number of other analysts also recently issued reports on MITO. BMO Capital Markets assumed coverage on Stealth BioTherapeutics in a research note on Tuesday, March 12th. They issued an outperform rating and a $29.00 price objective on the stock. Nomura assumed coverage on Stealth BioTherapeutics in a research note on Tuesday, March 12th. They issued a buy rating and a $23.00 price objective on the stock. Jefferies Financial Group assumed coverage on Stealth BioTherapeutics in a research note on Tuesday, March 12th. They issued a hold rating and a $16.00 price objective on the stock. Finally, Evercore ISI assumed coverage on Stealth BioTherapeutics in a research note on Tuesday, March 12th. They issued an outperform rating and a $35.00 price objective on the stock. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $23.80.

NASDAQ:MITO opened at $13.70 on Wednesday. Stealth BioTherapeutics has a 1 year low of $11.11 and a 1 year high of $20.99. The company has a market capitalization of $375.82 million and a price-to-earnings ratio of -9.72.

A hedge fund recently bought a new stake in Stealth BioTherapeutics stock. Dean Capital Investments Management LLC bought a new position in Stealth BioTherapeutics Corp (NASDAQ:MITO) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 50,420 shares of the company’s stock, valued at approximately $646,000. Dean Capital Investments Management LLC owned 0.18% of Stealth BioTherapeutics as of its most recent filing with the SEC. Institutional investors own 0.18% of the company’s stock.

About Stealth BioTherapeutics

Stealth BioTherapeutics Corp, a clinical-stage biotechnology company, focuses on the discovery, development, and commercialization of therapies for diseases involving mitochondrial dysfunction. Its lead product candidate, Elamipretide, has the potential to treat rare genetic and common age-related mitochondrial diseases.

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