In a research report released today, H.C. Wainwright analyst Swayampakula Ramakanth reiterated a Buy rating on shares of Advaxis, Inc. (NASDAQ:ADXS), with a price target of $30, after Dr. Tom Herzog of the University of Cincinnati Cancer Institute presented updated results from stage 1 of the ongoing GOG0265 study at the annual meeting of the American Gynecological & Obstetrical Society yesterday. GOG0265 is a Phase 2, open-label, single-arm study investigating the use of axalimogene filolisbac for the treatment of persistent/recurrent metastatic cervical cancer.
Ramakanth noted, “Advaxis had previously presented interim data from this study in March. The newly presented results include updates on the efficacy, safety and patient profile data from August, 2015. Overall, we believe that these early-stage results suggest that the vaccine has strong efficacy even in patients with advanced disease and a manageable safety profile.”
Furthermore, “We believe that the company would incorporate the lessons learned from the GOG0265 study regarding patient recruitment, vaccine dosing, and the management of side effects into the design of the AIM2CERV study in order to maximize the likelihood of success. We expect the AIM2CERV study to begin patient enrollment before the end of 2015, pending FDA approval of the special protocol assessment. If these studies are successful, we believe axalimogene filolisbac could reach the market in 2018 and achieve riskadjusted revenues of $301M by 2025.”
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 0.7% and a 30.0% success rate. Ramakanth has a 21.7% average return when recommending ADXS, and is ranked #2125 out of 3771 analysts.
All the 3 analysts polled by TipRanks rate Advaxis stock a Buy. With a return potential of 57%, the stock’s consensus target price stands at $30.33.