Brookline Capital Markets analyst Kumaraguru Raja initiated coverage with a Buy rating on Celsion Corp (CLSN) yesterday and set a price target of $9. The company’s shares closed yesterday at $1.84, close to its 52-week low of $1.81.
Raja wrote:
“Celsion has investigational oncology therapeutic products and platform technologies that can be used for targeting cancer. ThermoDox is based on LTSL platform and is a heat-labile liposome containing doxorubicin. GEN-1 delivers IL-12 plasmids to cancers. We are initiating coverage with a Buy rating and a TP of $9.”
According to TipRanks.com, Raja is a 1-star analyst with an average return of -6.2% and a 40.6% success rate. Raja covers the Healthcare sector, focusing on stocks such as Arcturus Therapeutics Ltd, Corbus Pharmaceuticals, and Acer Therapeutics Inc.
Celsion Corp has an analyst consensus of Moderate Buy, with a price target consensus of $9, which is a 389.1% upside from current levels. In a report issued on November 15, Oppenheimer also assigned a Buy rating to the stock with a $9 price target.
.
See today’s analyst top recommended stocks >>
Based on Celsion Corp’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $4.66 million. In comparison, last year the company had a GAAP net loss of $5.67 million.
Based on the recent corporate insider activity of 10 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CLSN in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Celsion Corp . engages in the research and development of pharmaceutical products for cancer treatments. Its portfolio includes deoxyribonucleic acid-mediated immunotherapy and ribonucleic acid-based therapies. It operates through the Celsion and ThermoDox brands. The company was founded by Yim-Pan Cheung in 1982 and is headquartered in Lawrenceville, NJ.
