In a report released yesterday, Kumaraguru Raja from Brookline Capital Markets initiated coverage with a Buy rating on Rexahn Pharma (RNN) and a price target of $10. The company’s shares closed yesterday at $1.13, close to its 52-week low of $1.03.
Raja commented:
“Rexahn is developing clinical and preclinical assets that can specifically target cancers without affecting non-cancer tissue. The lead anti-cancer molecules, RX-3117 and RX-5902 are a novel nucleoside analog prodrug, and a small molecule inhibitor of phosphorylated p68 protein respectively. These molecules are in Phase 2 studies with data readouts expected in 2019. RX-0201 is a preclinical asset for AKT inhibition. We are initiating coverage with a Buy rating and $10 TP.”
According to TipRanks.com, Raja is a 1-star analyst with an average return of -4.4% and a 44.4% success rate. Raja covers the Healthcare sector, focusing on stocks such as Arcturus Therapeutics Ltd, Corbus Pharmaceuticals, and Acer Therapeutics Inc.
Rexahn Pharma has an analyst consensus of Strong Buy, with a price target consensus of $10.13.
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Based on Rexahn Pharma’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $5.34 million. In comparison, last year the company had a GAAP net loss of $1.04 million.
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Rexahn Pharmaceuticals, Inc. is a clinical stage biopharmaceutical company, which engages in the research and development of oncology therapeutics. Its drug candidates include the following: RX-31171 for pancreatic, bladder, colon, and lung cancer; RX-5902 or Supinoxin for metastatic triple negative breast cancer; and RX-0201 or Archexin for renal cell carcinoma, glioblastoma, ovarian, stomach, and pancreatic cancer. It also develops nano-based drug delivery systems. It also develops nano-based drug delivery systems. The company was founded by Chang Ho Ahn on March 19, 2001 and is headquartered in Rockville, MD.
