H.C. Wainwright analyst Swayampakula Ramakanth maintained a Buy rating on Tyme Technologies Inc (TYME) today and set a price target of $9.50. The company’s shares opened today at $2.60.
Ramakanth commented:
“We maintain our Buy rating of TYME and our 12-month price target of $9.50 per share. We derive our price target based on a net present value analysis of projected SM-88 revenues through FY2030 assuming a 12% discount rate and 2% terminal growth rate. We derive an rNPV of $1.5B for SM-88 and include $17M in net cash to arrive at a 12-month price target of $9.73 per diluted share, which we round to $9.50. (1) clinical; (2) regulatory; (3) commercial; (4) financial; and (5) intellectual property.”
According to TipRanks.com, Ramakanth ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -3.1% and a 35.9% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Collplant Holdings Ltd, Leap Therapeutics Inc, and Correvio Pharma Corp.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Tyme Technologies Inc with a $9.25 average price target, implying a 255.8% upside from current levels. In a report issued on February 12, Canaccord Genuity also reiterated a Buy rating on the stock with a $9 price target.
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Based on Tyme Technologies Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $8.05 million. In comparison, last year the company had a GAAP net loss of $5.56 million.
Based on the recent corporate insider activity of 8 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 TYME in relation to earlier this year.
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Tyme Technologies, Inc. operates as a clinical-stage biopharmaceutical company focused on development and commercialization of highly targeted cancer therapeutics with a broad range of oncology indications. Its clinical program, SM-88 is a novel combination therapy based on dysfunctional metyrosine derivatives and has shown complete or partial imaging responses in 15 different cancer subtypes, including solid tumors, sarcomas, gliomas and hematological malignancies, without demonstrating drug-related severe adverse events. The company was founded on November 22, 2011 and is headquartered in New York, NY.
