Roth Capital analyst Jotin Marango maintained a Buy rating on Cyclacel Pharmaceuticals (NASDAQ: CYCC) today and set a price target of $8. The company’s shares closed yesterday at $1.44, close to its 52-week low of $1.28.
Marango noted:
“We view this as an innovative and opportunistic step forward, which both validates these assets and their clinical programs while also lifting material financial burden from the company’s near/ medium term.”
According to TipRanks.com, Marango is a 4-star analyst with an average return of 11.8% and a 38.3% success rate. Marango covers the Healthcare sector, focusing on stocks such as KalVista Pharmaceuticals Inc, Stemline Therapeutics Inc, and Actinium Pharmaceuticals.
Currently, the analyst consensus on Cyclacel Pharmaceuticals is a Moderate Buy with an average price target of $7.50.
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The company has a one-year high of $2.25 and a one-year low of $1.28. Currently, Cyclacel Pharmaceuticals has an average volume of 52.13K.
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Cyclacel Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company. It uses cell cycle, transcriptional regulation and DNA damage response biology to develop innovative, targeted medicines for cancer and other proliferative diseases.
