Maxim Group analyst Jason Kolbert was out pounding the table on TrovaGene Inc (NASDAQ:TROV) Thursday, reiterating a Buy rating and price target of $13, which represents a potential upside of 37% from where the stock is currently trading.
Kolbert wrote, “We recently checked in with Trovagene management, as the stock has been under pressure in recent days. While there’s no specific reason behind the pressure, we do believe that recent efforts in the competitive landscape have been weighing on the stock. These include claims from competitive companies pursuing IPOs about their products in the oncology diagnostics marketplace versus Trovagene’s. Our advice to clients and investors: “Stay the course.””
The analyst concluded, “While Trovagene is now a commercial company (the company reported its first quarter of product revenues last quarter), we see 2015 as a building year towards KOL adoption. The real revenue build begins in 2016 as Trovagene starts to penetrate larger commercial opportunities with a wider offering of tests. We see advanced technology, high sensitivity, and other attributes to the company’s platform that move it beyond just single molecule sequencing.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Jason Kolbert has a total average return of 0.5% and a 40.3% success rate. Kolbert is ranked #2010 out of 3688 analysts.