H.C. Wainwright analyst Swayampakula Ramakanth weighed in today with a favorable report on Advaxis, Inc. (NASDAQ:ADXS) after the company released a semiannual business update and held a conference call. The analyst reiterated a Buy rating on Advaxis with a price target of $30.00. Shares of ADXS are currently trading at $18.25, down $0.80, or -4.20%.
Ramakanth noted, “We expect that the company could initiate two new clinical programs in collaboration with partner, Sorrento Therapeutics in 2016, to evaluate the use of ADXS vaccines in combination with one or more checkpoint modulators.” Further, “We believe that if ADXS-HPV is approved it would represent both a validation of the technology and provide Advaxis with a source of near-term revenues.”
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 13.1% and a 45.0% success rate. Ramakanth has a 21.4% average return when recommending ADXS, and is ranked #779 out of 3679 analysts.
All the 2 analysts polled by TipRanks rate Advaxis Inc stock a Buy. With a return potential of 43.1%, the stock’s consensus target price stands at $26.