H.C. Wainwright Maintains Buy On OncoSec Following FY1Q15 Update


In a research report sent to investors today, H.C. Wainwright analyst Reni Benjamin maintained a Buy rating on OncoSec Medical (OTC:ONCS) with a $2.00 price target, following the company’s fiscal first-quarter results, posting a net loss of ($4.1) MM, or ($0.02) per share for the first quarter ending on October 31, 2014, in line with Wainwright expectations.

Benjamin noted, “Going forward, we expect the burn rate to increase to approximately $3.8 MM per quarter as a new Phase 2 program in head and neck cancer kicks off, along with a planned investigator-sponsored combination study evaluating ImmunoPulse with pembrolizumab. Based on our models and guidance from management, we expect the current cash position to sustain operations for at least the next two years.”

The analyst added, “With multiple new Phase 2 trials pending initiation, the potential for a licensing deal, and a strong cash position of $34.0 MM, we believe OncoSec represents an undervalued player with significant upside for the long-term investor.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Reni Benjamin has a total average return of -6.0% and a 28.0% success rate. Benjamin has a -13.4% average return when recommending ONCS, and is ranked #3227 out of 3420 analysts.

 

 

 

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts