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On Friday, Ascendiant Capital analysts raised the price target for Atossa Genetics (NASDAQ:ATOS) stock to $7.50 from $7.25, while maintaining a Buy rating. The decision follows an analysis of the company’s current valuation, which is deemed attractive. Trading at $0.86, the stock has shown strong momentum with a 10.64% gain over the past week, according to InvestingPro data.
The analysts highlighted the significant upside potential from the current share price, suggesting that the new price target reflects the balance between the company’s high risks and its growth prospects. The revised target is based on a net present value analysis. InvestingPro data reveals the company maintains strong liquidity with a current ratio of 12.67, though it faces profitability challenges with negative earnings in the last twelve months.
Atossa Genetics, listed on NASDAQ under the ticker ATOS, is viewed by Ascendiant Capital as having large upside opportunities, despite its associated risks. The firm continues to hold a positive outlook on the company’s future performance.
Investors may find this development noteworthy as it suggests confidence in Atossa Genetics’ potential for growth, as indicated by the maintained Buy rating and increased price target.
In other recent news, Atossa Therapeutics has made significant strides in its clinical and intellectual property endeavors. The company announced the issuance of a new patent by the United States Patent and Trademark Office for its (Z)-endoxifen formulations, which are being developed for breast cancer treatment, including hormone receptor-positive and metastatic breast cancer. This patent strengthens Atossa’s intellectual property portfolio, adding to its robust estate of over 200 claims. Additionally, Atossa has outlined plans for a Phase 3 clinical study, SMART 2.0, to assess the efficacy of (Z)-endoxifen in reducing interval breast cancer in high-risk women. The trial will explore the drug’s potential to reduce mammographic density and improve early detection. Analyst firm Craig-Hallum initiated coverage on Atossa Genetics, assigning a Buy rating and highlighting the potential of Z-endoxifen as a differentiator in breast cancer treatment. H.C. Wainwright also maintained its Buy rating with a $7 price target, citing Atossa’s strategic focus on metastatic breast cancer as promising. These developments underscore Atossa’s commitment to advancing breast cancer treatments and enhancing shareholder value.
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