H.C. Wainwright Reiterates Buy On Celsion Following Meeting With Management
In a research report issued today, H.C. Wainwright analyst Reni Benjamin reiterated coverage with a Buy rating on shares of Celsion Corp. (CLSN), and an $8 price target. The report follows an in-person update from Celsion’s management team, including Dr. Khursheed Anwar, who joined Celsion with the recent acquisition of EGEN, Inc.
Benjamin noted, “In our conversation, we learned what separates EGEN’s platform technologies for delivery and expression of nucleic acids from competitors. Going forward, we believe certain EGEN assets, in particular the TheraSilence platform and EGEN-001, could translate into value drivers for the combined entity. With the pending OPTIMA Phase 3 initiation, a strategic acquisition which added immuno-oncology and RNAi programs, and approximately $53.8 MM in cash for clinical development, we believe Celsion represents an undervalued player with significant upside for the long-term, risk-tolerant investor”.
According to TipRanks.com, which measures analysts and bloggers success rate based on how their calls perform, analyst Reni Benjamin currently has a one-year average return of 1.6% and a 36% success rate. Benjamin has a -1.5% average profit recommending CLSN, and is ranked #1882 out of 3217 analysts.