MLV analyst Raghuram Selvaraju was out pounding the table on Advaxis, Inc. (NASDAQ:ADXS) Friday, reiterating a Buy rating on the stock with a price target of $34.00, which implies an upside of 75.0% from current levels.
Selvaraju said, “Recent updates by Advaxis demonstrate the firm’s continued advancement of multiple clinical programs. The company recently submitted a Special Protocol Assessment (SPA) request to the FDA for its Phase III cervical cancer clinical trial with ADXS-HPV.”
“At the start of this month, the FDA also issued clearance for the Phase II trial of ADXS-HPV with the Incyte agent epacadostat for early-stage HPV-associated cervical cancer. The firm closed fiscal 2Q 2015 with nearly $46MM in cash and equivalents, which we believe provides a solid financial footing through at least the next 12 months.”, the analyst added.
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Raghuram Selvaraju has a total average return of 11.7% and a 47.6% success rate. Selvaraju is ranked #418 out of 3635 analysts.
All the 2 analysts polled by TipRanks rate Advaxis stock a Buy. With a return potential of 33.8%, the stock’s consensus target price stands at $26.