Maxim Group reissued their buy rating on shares of Moleculin Biotech (NASDAQ:MBRX) in a research report sent to investors on Wednesday morning. The brokerage currently has a $3.00 price objective on the stock.

“Moleculin announced that it has begun recruiting patients in its second clinical trial of Annamycin for the treatment of relapsed/refractory acute myeloid leukemia. This study is being conducted in Poland. We see this as a positive for the company.”,” the firm’s analyst wrote.

A number of other research firms also recently weighed in on MBRX. ValuEngine raised shares of Moleculin Biotech from a hold rating to a buy rating in a research report on Tuesday, December 11th. Roth Capital set a $8.00 target price on shares of Moleculin Biotech and gave the company a buy rating in a research report on Tuesday, October 16th. Finally, Zacks Investment Research raised shares of Moleculin Biotech from a hold rating to a buy rating and set a $1.50 price objective for the company in a research report on Friday, October 19th.

NASDAQ:MBRX traded down $0.06 on Wednesday, reaching $1.38. 91,086 shares of the stock traded hands, compared to its average volume of 161,650. The company has a market capitalization of $38.20 million, a PE ratio of -2.94 and a beta of 1.41. Moleculin Biotech has a 1-year low of $0.93 and a 1-year high of $3.34.

Moleculin Biotech (NASDAQ:MBRX) last released its earnings results on Tuesday, November 13th. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.05. As a group, research analysts expect that Moleculin Biotech will post -0.46 EPS for the current fiscal year.

About Moleculin Biotech

Moleculin Biotech, Inc, a clinical-stage pharmaceutical company, focuses on the development of oncology drug candidates. Its lead drug candidate is liposomal Annamycin, an anthracycline intended for the treatment of relapsed or refractory acute myeloid leukemia (AML). The company also develops WP1066 Portfolio, an immuno-stimulating STAT3 inhibitor for the treatment of brain tumors, pancreatic cancer, and AML; and WP1122 Portfolio and related molecules for the treatment of glioblastoma multiforme and related central nervous system malignancies.

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