Maxim Weighs In On OncoSec Medical Inc Following Positive Clinical Trial Results In MCC
Maxim’s healthcare analyst Jason Kolbert weighed in today with an optimistic view on OncoSec Medical Inc (NASDAQ:ONCS), after the company announced positive results from a Phase II trial of its ImmunoPulse IL-12 plasmid-based therapy in patients with Merkel cell carcinoma (MCC). However, OncoSec shares were under pressure today as part of the biotech selloff, dropping 14.12% to $5.78.
Kolbert noted, “IL-12 Immunopulse upregulation of IL-12 in the tumor itself may be the key to “unmasking” tumors to T-cell attack, potentially further enhanced by increased susceptibility to checkpoint inhibitors like anti-PD-1 monoclonal antibodies. Oncosec’s approach may be applicable to many tumor types, particularly those with a high incidence of anti-PD-1/PDL-1 nonresponders. The two trials may yield important clues as the role if IL-12 in the immunological ballet that occurs with tumor cells.”
Kolbert rates OncoSec Medical shares a Buy, with a price target of $17, which implies an upside of 194% from current levels.
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Jason Kolbert has a total average return of -13.4% and a 27.8% success rate. Kolbert has a -16.1% average return when recommending ONCS, and is ranked #3754 out of 3759 analysts.
The 2 analysts polled by TipRanks rate OncoSec Medical stock a Buy. With a return potential of 263%, the stock’s consensus target price stands at $21.