Article Summary:
- Mustang Bio Inc. (MBIO, Financial) sells Worcester, MA facility to AbbVie for $1 million, aiming to save $2 million over the next two years.
- Analysts give Mustang Bio a price target of $10.00, a significant upside from its current price of $1.33.
- The company's average brokerage recommendation is "Outperform," reflecting positive sentiment from analysts.
In a strategic move, Mustang Bio, Inc. (MBIO) has announced the sale of its Worcester, Massachusetts manufacturing facility lease and certain assets to AbbVie Bioresearch Center for $1 million. This decision is projected to save Mustang Bio approximately $2 million over the course of the next two years. The company is redirecting its resources to focus on enhancing its cancer therapy portfolio, a core area of its strategic vision.
Wall Street Analysts Forecast
Wall Street analysts have set a consensus one-year price target for Mustang Bio Inc. at $10.00, with both the high and low estimates at this figure. This target suggests a remarkable 652.22% upside from the current trading price of $1.33. Investors can explore more detailed estimate data on the Mustang Bio Inc (MBIO, Financial) Forecast page.
Additionally, the average brokerage recommendation is pegged at 2.0, indicating a status of "Outperform." This reflects a favorable outlook from the single brokerage firm covering the stock. The rating scale varies from 1 to 5, with 1 meaning Strong Buy and 5 indicating Sell. This optimism signals potential growth and solid performance prospects for investors considering Mustang Bio as part of their portfolio.
