FBR Reiterates Outperform on Advaxis, Inc. (ADXS) Following SPA Agreement With FDA
In a research report published on Thursday, FBR analyst Vernon Bernardino reiterated an Outperform rating on shares of Advaxis, Inc. (NASDAQ:ADXS) with a price target of $34, after the company announced that it reached an agreement with the FDA for a Special Protocol Assessment (SPA) process for the company’s AIM2CERV Phase III trial with its immunotherapy candidate, axalimogene filolisbac (AXAL), in patients with high-risk, locally advanced cervical cancer.
Bernardino noted, “The agreement marks the achievement of ADXS’ number one priority this year, but importantly, maintains AXAL’s advancement in cervical cancer, its lead indication. AIM2CERV will be a multinational, randomized, controlled clinical trial will commence this summer and be conducted in collaboration with the GOG Foundation, an independent non-profit oncology organization that specializes in research on gynecologic malignancies. The GOG successfully conducted GOG-0265, which was a single-arm, two-stage Phase II study that showed heavily bevacizumab-pretreated patients with squamous or non-squamous persistent/recurrent metastatic cervical cancer could show 12-month survival of 38.5% when treated with three doses of AXAL, exceeding historical results (30%), and 67% survival in patients that received more than three doses. We look for the start of enrollment to have a primary endpoint of disease-free survival and be a catalyst for the stock in late 3Q16.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Vernon Bernardino has a yearly average return of -19.9% and a 24.7% success rate. Bernardino has a -9.6% average return when recommending ADXS, and is ranked #3910 out of 4013 analysts.
As of this writing all the 4 analysts polled by TipRanks rate Advaxis stock a Buy. With a return potential of 192%, the stock’s consensus target price stands at $25.
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