In a report released yesterday, Andrew D’silva from B.Riley FBR maintained a Buy rating on Anixa Biosciences Inc (ANIX), with a price target of $11.25. The company’s shares closed yesterday at $4.89.
D’silva said:
“Anixa Biosciences (ANIX) filed its 10-Q for F1Q19 (January quarter) on 3/13. The company posted an adj. EPS/adj. EBITDA of ($0.23)/($1.5M), versus our estimate of ($0.15)/($1.9M); we represent consensus. The difference between adj. EPS and adj. EBITDA, relative to our estimates, was primarily due to higher stock-based compensation, as the company recognized $2.8M in SBC, vs. our projection of $1M. ANIX exited 1Q with $5.9M in cash/ST investments and a strong current ratio of 4.7:1.0. We believe the company is adequately capitalized to meet its near-term objectives, but we continue to expect equity raises to take place in the coming quarters, primarily to fund ongoing clinical trials/development programs.”
According to TipRanks.com, D’silva is a 4-star analyst with an average return of 10.5% and a 47.8% success rate. D’silva covers the Healthcare sector, focusing on stocks such as EyePoint Pharmaceuticals Inc, Oramed Pharmaceuticals, and Sorrento Therapeutics.
Currently, the analyst consensus on Anixa Biosciences Inc is a Moderate Buy with an average price target of $11.25.
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Anixa Biosciences, Inc. a cancer-focused biotechnology company, is harnessing the body’s immune system in the fight against cancer. Anixa is developing both diagnostics and therapeutics to detect cancer early, when it is most curable, and to treat those afflicted once diagnosed.
