Maxim Group analyst Anthony Vendetti maintained a Buy rating on BioPharmX Corp (NYSE: BPMX) today and set a price target of $1.50. The company’s shares closed yesterday at $0.16.
Vendetti commented:
“F2Q19 (July) results were inline with our estimates and consensus. 2018, cash and cash equivalents were $6.6M, down from $10.9M at April 30, 2018. 2018, BPMX received a deficiency letter from the NYSE American exchange stating that the company was not in compliance with the exchange’s continued listing standards.”
According to TipRanks.com, Vendetti is a 4-star analyst with an average return of 8.9% and a 55.4% success rate. Vendetti covers the Healthcare sector, focusing on stocks such as Ellex Medical Lasers Limited, Restoration Robotics Inc, and Xtant Medical Holdings.
BioPharmX Corp has an analyst consensus of Moderate Buy, with a price target consensus of $1.50.
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Based on BioPharmX Corp’s latest earnings release for the quarter ending July 31, the company reported a quarterly GAAP net loss of $4.41 million. In comparison, last year the company had a GAAP net loss of $3.74 million.
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BioPharmX Corp. engages in the provision of healthcare products through platform technologies for pharmaceutical, over-the-counter, and supplement applications in dermatology. Its platforms include Topical Gel, Injectable, and Encapsulation.
