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B.Riley Financial Thinks Frequency Therapeutics’ Stock is Going to Recover

In a report released yesterday, Mayank Mamtani from B.Riley Financial maintained a Buy rating on Frequency Therapeutics (FREQResearch Report), with a price target of $21.00. The company’s shares closed last Tuesday at $5.10, close to its 52-week low of $5.06.

According to TipRanks.com, Mamtani is a 3-star analyst with an average return of 2.5% and a 38.2% success rate. Mamtani covers the Healthcare sector, focusing on stocks such as Arrowhead Pharmaceuticals, Spectrum Pharmaceuticals, and Madrigal Pharmaceuticals.

Frequency Therapeutics has an analyst consensus of Moderate Buy, with a price target consensus of $13.00.

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Based on Frequency Therapeutics’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $25.16 million. In comparison, last year the company earned revenue of $11.25 million and had a GAAP net loss of $5.34 million.

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Frequency Therapeutics, Inc. is a clinical-stage biotechnology company. It engages in the development of small molecule drugs that activate progenitor cells within the body to restore healthy tissue. The company was founded by Robert S. Langer, Jr., David L. Lucchino, Christopher Loose and Will J. McLean in November 13, 2014 and is headquartered in Woburn, MA.

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