.jpg)
In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Check-Cap (NASDAQ: CHEK), with a price target of $14. The company’s shares closed yesterday at $4.65, close to its 52-week low of $3.12.
Selvaraju noted:
“We note that Check-Cap effected a 1-for-12 reverse stock split of its ordinary shares on and regained compliance with Nasdaq minimum bid price requirement. The company had 1.6M shares outstanding at the end of April and $5.0M shares outstanding after the public offering on May 14. Importantly, investors may recall that the company has initiated a post-approval clinical study of the C-Scan system version 3 in the European Union (EU). C-Scan is an ingestible capsule for preparation- free colorectal cancer (CRC) screening and polyp detection, and the current version incorporates the latest algorithms and system optimization and tailors scanning of the colon to the patient’s natural colonic movements to maximize the amount of the colon that is tracked and imaged.”
According to TipRanks.com, Selvaraju is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -3.4% and a 38.5% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, Biospecifics Technologies Corp, and EyePoint Pharmaceuticals Inc.
Check-Cap has an analyst consensus of Moderate Buy, with a price target consensus of $14.
See today’s analyst top recommended stocks >>
The company has a one-year high of $25.08 and a one-year low of $3.12. Currently, Check-Cap has an average volume of 776.9K.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Check-Cap Ltd. clinical stage medical diagnostics company, which engages in developing gastrointestinal imaging devices. It develops capsule-based system that utilizes low-dose X-rays to detect polyps, masses and colorectal cancer screening. The company was founded by Yoav Kimchy in 2005 and is headquartered in Isfiya, Israel.
Read More on CHEK:
