In a report released today, Swayampakula Ramakanth from H.C. Wainwright maintained a Buy rating on Tyme Technologies Inc (NASDAQ: TYME), with a price target of $9.50. The company’s shares closed yesterday at $2.57, close to its 52-week low of $2.01.
“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 $1.3B for SM-88 and include $22M in net cash to arrive at a 12-month price target of $9.46 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 is a 4-star analyst with an average return of 4.2% and a 39.1% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Diffusion Pharmaceuticals Inc, IntelGenx Technologies, and Trillium Therapeutics.
Tyme Technologies Inc has an analyst consensus of Moderate Buy, with a price target consensus of $9.75.
The company has a one-year high of $8.30 and a one-year low of $2.01. Currently, Tyme Technologies Inc has an average volume of 213.2K.
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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.