Shares of MiNK Therapeutics (NASDAQ: INKT) received an upgrade from Wall Street Zen, moving from a sell rating to a hold rating. This development highlights a shift in sentiment towards the company, which is focused on innovative cell therapies for cancer and immune-mediated diseases. The upgrade was noted in a research note released on Saturday, October 21, 2023.
Analyst Ratings Reflect Mixed Sentiments
In addition to Wall Street Zen, other brokerages have recently provided updates on MiNK Therapeutics. On August 15, 2023, HC Wainwright upgraded the stock from a neutral rating to a buy rating, setting a target price of $35.00. Conversely, Weiss Ratings issued a sell rating, maintaining a “sell (d-)” classification on October 8, 2023. Meanwhile, Zacks Research also upgraded MiNK Therapeutics from a “strong sell” to a “hold” rating on October 20, 2023.
Overall, the stock has received various ratings: one analyst has given it a Strong Buy rating, another a Buy rating, two have provided Hold ratings, and one a Sell rating. According to MarketBeat data, the average rating for MiNK Therapeutics stands at “Hold,” with an average target price of $35.00.
Quarterly Earnings Show Positive Surprises
MiNK Therapeutics recently reported its quarterly earnings on November 14, 2023. The company posted earnings per share of ($0.65), surpassing analysts’ expectations of ($0.86) by $0.21. This positive result indicates a potential turnaround in financial performance, although analysts project the company will achieve an EPS of (–2.75) for the current year.
MiNK Therapeutics is a clinical-stage biopharmaceutical company dedicated to the discovery, development, and commercialization of allogeneic, off-the-shelf, invariant natural killer T (iNKT) cell therapies. Its lead product candidate, AGENT-797, is currently in Phase 1 clinical trials, targeting various myeloma conditions and solid tumors.
The mixed analyst ratings and the recent positive earnings surprise may influence investor sentiment in the coming weeks. Stakeholders are advised to stay informed as more developments unfold in the ongoing evaluation of MiNK Therapeutics’ performance and its innovative treatment solutions.
