Magenta Therapeutics initiated with an Outperform at Cowen. Cowen analyst Marc Frahm initiated Magenta Therapeutics with an Outperform rating as he believes the company's drug pipeline candidates have the potential to improve several aspects of a stem cell transplant and could transform the accessibility of transplantation. Frahm expects Magenta Therapeutics shares to appreciate as multiple candidates advance in development.
Magenta Therapeutics initiated with an Outperform at Wedbush. Wedbush analyst David Nierengarten started Magenta Therapeutics with an Outperform rating and $22 price target, noting that the company is developing its wholly-owned pipeline of therapies that aim to improve every major step of the hematopoietic stem cell transplant process, providing multiple shots on goal in an area largely overlooked by drug developers.
Magenta Therapeutics initiated with an Overweight at JPMorgan. JPMorgan analyst Jessica Fye started Magenta Therapeutics with an Overweight rating and $18 price target. The analyst believes the company is positioned to transform the stem cell transplant market.
Magenta Therapeutics initiated with a Buy at Goldman Sachs. Goldman Sachs analyst Terence Flynn started Magenta Therapeutics with a Buy rating and $18 price target. The company's focus on transplant is compelling with new data expected from three programs in the second half of 2018, Flynn tells investors in a research note.
Magenta Therapeutics (MGTA) priced 6.667M shares at $15.00. The deal priced in the middle of the $14.00-$16.00 range. JPMorgan, Goldman Sachs and Cowen acted as joint book running managers for the offering.