H.C. Wainwright reiterates Buy rating on Medicenna stock with $2.50 target

Published 04/08/2025, 17:40
H.C. Wainwright reiterates Buy rating on Medicenna stock with $2.50 target

Investing.com - H.C. Wainwright has reiterated its Buy rating and $2.50 price target on Medicenna Therapeutics (NASDAQ:MDNA), a $53 million market cap biotech company currently trading at $0.61. According to InvestingPro data, analysts maintain a Strong Buy consensus with price targets ranging from $2.72 to $3.63.

The clinical-stage immunotherapy company reported that enrollment for its Phase 1/2 ABILITY-1 study evaluating MDNA11, a long-acting IL-2 agonist, remains on track with top-line data expected by year-end 2025. While the company maintains a strong current ratio of 4.94x, InvestingPro analysis indicates rapid cash burn requires attention.

ABILITY-1 is designed to assess MDNA11 both as a monotherapy and in combination with pembrolizumab for treating solid tumors, with management planning to release clinical data updates from both treatment cohorts in one or possibly two disclosures before the end of the year.

The research firm expressed optimism about these forthcoming updates, citing positive data previously presented at the American Association of Cancer Research annual meeting in April 2025.

Medicenna also plans to initiate a clinical program for MDNA113, a drug candidate from its BiSKIT platform, in 2026 after completing ongoing pre-clinical studies, contingent upon securing adequate funding. The company’s financial position shows more cash than debt, though InvestingPro subscribers can access 5 additional key financial tips and detailed metrics to better assess the investment opportunity.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.