H.C. Wainwright Reiterates Buy On Oxigene Following Initiation Of Phase 2 Study
In a research report issued today, H.C. Wainwright analyst Reni Benjamin reiterated a Buy rating on shares of Oxigene (NASDAQ:OXGN) with a $6 price target, following last week’s news that the company initiated enrollment in a Phase 2 study to evaluate the safety and efficacy of ZYBRESTAT in patients with locally advanced or metastatic gastrointestinal neuroendocrine tumors (GI-NET).
Benjamin observed, “We view this announcement as good news for investors as the company endeavors to extend the reach of ZYBRESTAT’s potential, tackling multiple indications with large unmet need. With several trials underway and data read-outs expected in the next 12 months, a pipeline of clinical and pre-clinical oncology assets, and a cash position of $36.3 MM (pro forma), we believe OXiGENE 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 -3.1% and a 25.0% success rate. Benjamin has a -6.9% average return when recommending OXGN, and is ranked #3042 out of 3293 analysts.