H.C. Wainwright Initiates Buy on ZIOPHARM Oncology Inc. (ZIOP); Sees 53% Upside for the Stock
In a research report released Thursday, H.C. Wainwright analyst Swayampakula Ramakanth initiated coverage on shares of ZIOPHARM Oncology Inc. (NASDAQ:ZIOP), with a Buy rating and price target of $9.5, which implies an upside of 53% from current levels.
Ramakanth wrote, “The company has established two powerful technology platforms, RTS and Sleeping Beauty, which in our view have the potential to be developed into a wide range of immune-targeting therapies […] We currently include the two clinical programs on Ad-RTS-hIL-12 and CD19 CAR-T in our financial projections: we expect Ad-RTS-hIL- 12 to reach the market in the US in 2022 and in the EU in 2023, and CD19 CAR-Ts to reach the market in 2022 as well. According to our projections, we expect these two products to generate risk-adjusted revenues of €141M in 2022, growing to €1.88B in 2027. In the near term, we expect to see the updated results from the Phase 1 GBM and breast cancer studies, as well as the initiation of several early phase studies. We believe that achieving these events in a timely manner may provide a modest boost to the stock price.”
As usual, we recommend taking analyst notes with a grain of salt. According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Swayampakula Ramakanth has a yearly average return of -18% and a 24% success rate. Ramakanth is ranked #4506 out of 4567 analysts.
Out of the 6 analysts polled by TipRanks (in the past 12 months), 4 rate Ziopharm stock a Hold, while 2 rate the stock a Buy. With a return potential of 77%, the stock’s consensus target price stands at $11.