H.C. Wainwright Reiterates Buy On RXi Pharmaceuticals Following Phase 2 Hypertrophic Scarring Trial Update
In a research report published today, H.C. Wainwright analyst Reni Benjamin reiterated a Buy rating on RXi Pharmaceuticals (NASDAQ:RXII) with a $9.00 price target, following completion of enrollment and three month follow-up data from the company’s first Phase 2 hypertrophic scarring trial.
Benjamin noted, “With a diversified platform primarily focused on dermal and ophthalmologic applications, a de-risked lead asset with the potential to enter multiple therapeutic areas, and a pro forma cash position of $19.4 MM (sufficient to fund operations throughout 2015), 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 0.5% and a 33.8% success rate. Benjamin has a -33.3% average return when recommending RXII, and is ranked #2059 out of 3423 analysts.