HC Wainwright Reiterates Buy On Celsion Following The Company’s Latest Announcements

Celsion Corp. (CLSN) announced interim data from the ongoing Phase 2 DIGNITY trial of ThermoDox in Recurrent Chest Wall Breast Cancer (RCWBC), where by a 50% local response rate was achieved. The company also announced yesterday the latest quarterly, post-hoc sweep of a 285 patient subset from the HEAT trial of Thermodox in hepatocellular carcinoma (HCC), demonstrating a 57% improvement (HR=0.639, p=0.037) in overall survival (OS) relative to a control arm.

In reaction to the announcements, HC Wainwright analyst Reni Benjamin reiterated a Buy rating on CLSN with an $8 price target, which represents a potential upside of 130.5% upside from where the stock is currently trading.

Benjamin wrote, “Going forward, we view the ThermoDox platform with cautious optimism given the previously reported HEAT Phase 3 trial results. However, with the acquisition of EGEN which added a new focus of immuno-oncology and a nucleic acid delivery platform, as well as 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 has a 1% average return and a 38% success rate. Benjamin has an 11.8% average return when recommending CLSN, and is ranked #1962 out of 3189 analysts.

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