RXi Pharmaceuticals Represents An Undervalued Player With Significant Upside, Says H.C. Wainwright
In a research note issued today, H.C. Wainwright analyst Reni Benjamin reiterated a Buy rating on RXI Pharmaceuticals (NASDAQ:RXII) with a $9 price target, following the release of the company’s third-quarter earnings.
Benjamin wrote, “RXi Pharmaceuticals’ has three ongoing Phase 2 clinical studies, utilizing optimized RNA interference (RNAi) therapeutics, including two in hypertrophic and one in keloid scarring. In September, the company presented positive early results from the first hypertrophic scarring trial, as well as the initiation of multiple new programs utilizing the company’s sd-rxRNA platform technology.”
The analyst concluded, “With a strong proprietary RNAi platform focused on dermal and ophthalmologic applications, a de-risked lead asset with the potential to enter multiple therapeutic areas, and a cash position of $10.1 MM, we believe RXi Pharmaceuticals 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 -4.7% and a 36.6% success rate. Benjamin has a -31.7% average return when recommending RXII, and is ranked #3180 out of 3393 analysts.