In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Eyegate (EYEG), with a price target of $6. The company’s shares closed yesterday at $0.42, close to its 52-week low of $0.28.
Selvaraju commented:
“Our price target is derived from a market value of the firm at $498M, which includes a discounted cash flow-based asset value for OBG, using a 15% discount rate and 1% terminal growth rate, and 50% probability of success. Investment risks include: (1) failure of OBG in clinical trials; (2) failure of OBG to secure regulatory approval; (3) failure of OBG to achieve commercial success due to reimbursement, penetration rate, and/or competition; and (4) potential dilution risk. EyeGate Pharmaceuticals, Inc.”
According to TipRanks.com, Selvaraju has currently no stars on a ranking scale of 0-5 stars, with an average return of -13.9% and a 22.4% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, Bausch Health Companies Inc, and Aerpio Pharmaceuticals Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Eyegate with a $6 average price target.
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Based on Eyegate’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $2.78 million. In comparison, last year the company had a GAAP net loss of $4.14 million.
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EyeGate Pharma is a clinical stage specialty pharmaceutical company, which engages in the development and commercialization of products for treating diseases and disorders of the eye. Its pipeline includes EGP-437 and Ocular Bandage Gel (OBG).
