Roth Capital Maintains Buy On Rexahn Pharmaceuticals Following 3Q14 Results
Roth Capital analyst Joseph Pantginis maintained a Buy rating on Rexahn Pharmaceuticals (NYSE:RNN) with a $3 price target, following the company’s third-quarter results, posting EPS of ($0.01) vs. Roth’s estimate of ($0.03). RNN ended the quarter with $35.6 million in cash.
Pantginis noted, “We look forward to catalysts and potential data from the ongoing studies of Supinoxin, RX-3117 and Archexin in early 2015. In early 2015, Rexahn expects to complete the first stage of the Phase IIa study of Archexin, which will determine MTD with data released afterwards. Rexahn expects to complete enrollment of the Phase Ib of RX-3117 by the end of 1Q15. To date, this study has not reached MTD. Rexahn expects to finish the Phase I study of Supinoxin in 1Q15. This study enrolled patients in five dose cohorts and has not reached MTD to date. Once these three studies reach these milestones we expect a busy data year for Rexahn in 2015, with increased visibility and gaining of momentum which in turn should position the company in a better spot for partnering discussions.”
The analyst added, “We believe a compelling valuation for the stock is being driven by the required pieces now in place for this refocused and retooled story. With a sole focus on oncology, we believe the Rexahn story is prepped for success based on projected upcoming catalysts.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Joseph Pantginis has a total average return of -4.0% and a 45.4% success rate. Pantginis has a -7.4% average return when recommending RNN, and is ranked #3261 out of 3386 analysts.