Cowen & Co. Downgrades Mast Therapeutics Inc to Market Perform

Brokerage firm Cowen & Co. Downgrades its rating on Mast Therapeutics Inc(NYSEMKT:MSTX). The shares have been rated Market Perform. Previously, the analysts had a Outperform rating on the shares. The rating by Cowen & Co. was issued on Sep 27, 2016.

Mast Therapeutics Inc (MSTX) made into the market gainers list on Fridays trading session with the shares advancing 8.91% or 0.009 points. Due to strong positive momentum, the stock ended at $0.11, which is also near the day’s high of $0.1149. The stock began the session at $0.101 and the volume stood at 1,92,40,408 shares. The 52-week high of the shares is $0.7088 and the 52 week low is $0.091. The company has a current market capitalization of $23 M and it has 21,18,15,450 shares in outstanding.

Mast Therapeutics Inc(MSTX) last announced its earnings results on Aug 8, 2016 for Fiscal Year 2016 and Q2.Earnings per share were $-0.05. Analysts had estimated an EPS of $-0.06.

Several Insider Transactions has been reported to the SEC. On Mar 30, 2015, Brandi Roberts (CFO) purchased 38,000 shares at $0.50 per share price.

Mast Therapeutics Inc. is a clinical-stage biopharmaceutical company. The Company develops therapies for serious or life-threatening diseases with unmet needs. The Company leverages its Molecular Adhesion and Sealant Technology (MAST) platform to develop MST-188 (vepoloxamer) Injection the Company’s lead product candidate. Vepoloxamer is being tested in a Phase III clinical study called EPIC for the treatment of vaso-occlusive crisis in patients with sickle cell disease. The Company also develops AIR001 a sodium nitrite solution for intermittent inhalation through nebulizer. AIR001 is being tested in multiple institution-sponsored Phase IIa clinical studies that provide the Company with data on AIR001’s potential to treat patients with preserved ejection fraction (HFpEF).

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