H.C. Wainwright analyst Shaunak Deepak assumes coverage on Vical Incorporated (NASDAQ: VICL) with a Buy rating and a price target of $12.00.

Deepak explains, “With a(n) asset in Phase 3 development that is fully funded by partner Astellas, and a diversified clinical pipeline, we believe VICL should be trading above cash.”

The analyst expects near-term Phase 2 data for the company’s partnered CMV vaccine in kidney transplant in 3Q16. Further, the analyst expects Phase 1 safety data for its antifungal VL2397 by YE16.

Shaunak Deepak is ranked #3,933 of 4,064 analyst on TipRanks.