This Analyst Sees Over 200% Upside For Rexahn Pharmaceuticals, Inc. (RNN) Shares
In a research report issued Thursday, H.C. Wainwright analyst Joseph Pantginis assumed coverage on shares of Rexahn Pharmaceuticals, Inc. (NYSEMKT:RNN) with a Buy rating and a $2.00 price target, which implies an upside of over 200% from current levels. Rexahn shares are currently trading at $0.645, up $0.028 or 4.52%.
Pantginis offers compelling reasons for his rating:
- The analyst has observed an important evolution of Rexahn’s mission, and believes that “we are now on the cusp of the transition to meaningful clinical data readouts this year with what we consider to be well thought out clinical studies.”
- Pantginis believes that the upcoming data flow could be a substantial value inflection point for shares, noting “We are quickly approaching a busy time for the company and shares based on projected data catalysts. We expect to receive data Phase 2a data from all three of the company’s assets, all in this quarter or next: 1) stage 2 data from RX-3117 pancreatic study; 2) stage 1 data from RX-3117 bladder study; 3) interim data from stage 1 Supinoxin study in TNBC (triple negative breast cancer); and 4) initial data from Archexin mRCC study. Based on early signs of activity (described below), we believe these next data ‘looks’ will continue to strengthen the drugs’ profiles and be reflected in the share price.”
According to TipRanks, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Joseph Pantginis has a yearly average return of -18.5% and a 29% success rate. Pantginis has a -48% average return when recommending RNN, and is ranked #4490 out of 4553 analysts.
Overall, the 2 analysts polled by TipRanks in the past 12 months rate Rexahn stock a Buy. With a return potential of 212.5%, the stock’s consensus target price stands at $2.00.