Bio-Path (NASDAQ:BPTH) Research Coverage Started at HC Wainwright

HC Wainwright started coverage on shares of Bio-Path (NASDAQ:BPTH) in a research note issued to investors on Tuesday, AnalystRatings.com reports. The brokerage issued a buy rating and a $28.00 target price on the stock.

“Our price target is derived from a market value of the firm at $81M, which includes a discounted cash flow-based asset value for prexigebersen (BP1001), using a 15% discount rate and 1% terminal growth rate, and assuming 2.9M shares outstanding at the end of 2Q20. Probability of success ascribed is 40%, based solely on future U.S. sales of prexigebersen in treatment of AML and MDS.”,” HC Wainwright’s analyst wrote.

NASDAQ:BPTH opened at $13.87 on Tuesday. Bio-Path has a twelve month low of $1.61 and a twelve month high of $73.52. The firm’s 50-day simple moving average is $13.55. The company has a market cap of $42.47 million, a price-to-earnings ratio of -0.96 and a beta of 3.24.

Bio-Path (NASDAQ:BPTH) last posted its quarterly earnings data on Thursday, May 16th. The company reported ($0.89) earnings per share for the quarter. Equities analysts forecast that Bio-Path will post -3.08 earnings per share for the current year.

A hedge fund recently bought a new stake in Bio-Path stock. Virtu Financial LLC acquired a new position in shares of Bio-Path Holdings Inc (NASDAQ:BPTH) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 16,461 shares of the company’s stock, valued at approximately $336,000. Virtu Financial LLC owned about 0.66% of Bio-Path at the end of the most recent quarter. Institutional investors and hedge funds own 10.77% of the company’s stock.

About Bio-Path

Bio-Path Holdings, Inc operates as a clinical and preclinical stage oncology focused RNAi nano particle drug development company in the United States. The company develops products based on DNAbilize, a drug delivery and antisense technology that uses P-ethoxy, which is a deoxyribonucleic acid (DNA) backbone modification intended to protect the DNA from destruction.

Further Reading: P/E Growth (PEG)

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