In a report released today, Joseph Pantginis from H.C. Wainwright reiterated a Buy rating on Rexahn Pharma (RNN), with a price target of $17. The company’s shares opened today at $1.08, close to its 52-week low of $1.03.
Pantginis said:
“Valuation and risks to price target achievement. We reiterate our Buy rating but are lowering our price target to $17 from $19.50. The factors impacting our valuation include: (1) change to base year; (2) adjustment to fully diluted share count of of October 2018 equity raise; and (3) increasing our chance of success for RX-3117 in first-line pancreatic cancer from 20% to 25%. Our target is based on our clinical net present value (NPV) model, which is currently driven by the company’s two lead assets, RX-3117, and RX-5902 (Supinoxin).”
According to TipRanks.com, Pantginis is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -17.7% and a 27.4% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Checkpoint Therapeutics Inc, and Strata Skin Sciences Inc.
Currently, the analyst consensus on Rexahn Pharma is a Strong Buy with an average price target of $10.13, an 838.0% upside from current levels. In a report issued on November 27, Brookline Capital Markets also initiated coverage with a Buy rating on the stock with a $10 price target.
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The company has a one-year high of $2.70 and a one-year low of $1.03. Currently, Rexahn Pharma has an average volume of 196.3K.
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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.
