Analyst: This Biopharma Stock is a Buy

Millendo will present at the Oppenheimer Healthcare Conference next week

by Lillian Currens

Published on Mar 13, 2019 at 12:00 PM
Updated on Mar 13, 2019 at 12:00 PM

Jefferies just initiated coverage on Millendo Therapeutics Inc (NASDAQ:MLND) with a "buy" rating and a $22 price target. The analyst said that Wall Street is overlooking the biopharmaceutical's treatments for a pair of orphan diseases, despite positive trial data and upbeat revenue expectations, and noted an attractive risk/reward setup. This recommendation comes ahead of Millendo Therapeutics' presentation at the Oppenheimer Healthcare Conference, next Tuesday, March 19.

Today, the stock is up 0.5% at $12.12. MLND bottomed out at an all-time low of $6.77 on Dec. 27,  but quickly recovered -- now up 54.8% year-to-date, with a boost from its 20-day moving average. While some pressure at the $12.75 area has caused the equity to stall out, MLND's 200-day moving average appears to have switched to a supportive role recently.

mlnd stock daily chart march 13

Analysts are relatively quiet on the pharma stock, but the two that were already following Millendo at last night's close give it a "strong buy" rating. Plus, the consensus 12-month target price of $25 is more than double current levels. 

The equity's recent rally has had short sellers jumping ship. Short interest dropped 3% in the most recent reporting period. The 68,476 shares currently sold short represents a mere 0.6% of the stock's float, but over two weeks of trading, at MLND's average daily trading volume.


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