H.C. Wainwright analyst Swayampakula Ramakanth was out pounding the table on Advaxis, Inc. (NASDAQ:ADXS) Tuesday, reiterating a Buy rating and raising the price target to $25 (from $14), which implies an upside of 21% from current levels.
Ramakanth wrote, “Six months ago, when we had initiated our coverage of Advaxis, the company had different strategies to utilize its Lm-LLO vaccine platform but little to show in terms of clinical progress. Today, the company has six clinical studies ongoing, and plans to initiate four more before the end of 2015. We believe, in a year’s time, Advaxis could have: 1) clinical data from all three of its development programs; 2) platform validation (via approval of ADXS-HER2 for canine osteosarcoma); 3) two registration studies underway in cervical and anal cancers; and 4) additional commercial and clinical collaborations.”
“Though we are not yet attributing value to all of Advaxis’ programs, just by adding the prostate cancer program, which has started clinical development, to our valuation analysis, we derive a new price target of $25 per share.”, the analyst added.
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Swayampakula Ramakanth has a total average return of 13.9% and a 40.7% success rate. Ramakanth has a 94.5% average return when recommending ADXS, and is ranked #904 out of 3574 analysts.