Healthcare Business

Goldman Sachs Has 4 Sizzling Biotech Stocks to Buy That Are Under $10

Kaleido has a collaboration agreement with Gustave Roussy Cancer Center to develop microbiome metabolic therapies in immuno-oncology; a research collaboration with Washington University School of Medicine to explore the influence of microbiome metabolic therapies on microbial and host physiology and metabolism; and a research collaboration with Janssen to prevent childhood-onset of atopic, immune and metabolic conditions.

The $15 Goldman Sachs price objective is above the $13.25 consensus figure. Shares have met resistance recently at the $10 level.

Magenta Therapeutics

This could be another red-hot idea for investors looking for a biotech play. Magenta Therapeutics Inc. (NASDAQ: MGTA) is a clinical-stage biotechnology company developing therapeutics to transform hematopoietic stem cell (HSC) transplants for patients with immune and blood-based diseases. It maintains a platform with an integrated and modular approach, which aims to reboot the blood and immune systems.

The company also develops a pipeline of small molecules; biologics, including antibody drug conjugates; and a cell therapy, with transplant options for many more patients with autoimmune diseases, blood cancers and genetic diseases. The company’s C100 program targets HSCs, immune cells and disease-causing cells. The C200 program targets HSCs and disease-causing cells, and the C300 program targets only immune cells.

Magenta Therapeutics announced in early December it has initiated patient enrollment in a Phase 2 trial of MGTA-145 in combination with plerixafor for stem cell mobilization in patients with multiple myeloma. The company also plans to initiate a Phase 2 trial of MGTA-145 for allogeneic stem cell transplant for patients with acute myeloid leukemia, acute lymphocytic leukemia and myelodysplastic syndrome in early 2021.

Earlier in 2020, a Phase 1 trial of MGTA-145 in stem cell mobilization in healthy volunteers met all of its primary and secondary endpoints. Meanwhile, Magenta said preclinical data showed that MGTA-117 is an “effective, potent conditioning agent for transplant with anti-leukemic activity” in animal models of acute myeloid leukemia.

The Goldman Sachs price target is $15. The consensus target is $17.33. Shares traded between $7.00 and $7.50 last week.

These four sizzling biotech stocks are trading under the $10 level and have big upside to the analyst price targets. Again, while not suitable for conservative portfolios, aggressive investors can get some solid share leverage buying 5,000, 10,000 or more shares and can make money on a much smaller share price move. Plus, they are all covered with a Buy rating at one of the top firms on Wall Street, Goldman Sachs.

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