H.C. Wainwright Thinks Dova Pharmaceuticals Inc’s Stock is Going to Recover


H.C. Wainwright analyst Joseph Pantginis maintained a Buy rating on Dova Pharmaceuticals Inc (DOVA) today and set a price target of $18. The company’s shares opened today at $8.28, close to its 52-week low of $5.62.

Pantginis said:

“Valuation and risks to price target achievement. We maintain our Buy rating and $18 price target. Our valuation is based on our clinical net present value (NPV) model, which allows us to flex multiple assumptions affecting a drug’s potential commercial profile. We currently add an extra layer of conservatism by employing a discount rate of 30% vs. our standard 15%, which we believe appropriately takes into consideration the overall risk profile fo the company currently.”

According to TipRanks.com, Pantginis has currently no stars on a ranking scale of 0-5 stars, with an average return of -15.9% and a 27.4% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Checkpoint Therapeutics Inc, and Iovance Biotherapeutics Inc.

Dova Pharmaceuticals Inc has an analyst consensus of Hold, with a price target consensus of $19.

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Based on Dova Pharmaceuticals Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $19.52 million. In comparison, last year the company had a GAAP net loss of $9.3 million.

Based on the recent corporate insider activity of 28 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 DOVA in relation to earlier this year.

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.

Dova Pharmaceuticals, Inc. is a clinical-stage pharmaceutical company, which engages in the acquisition, development, and commercialization of drug candidates for rare diseases. It focuses on addressing thrombocytopenia, a disorder characterized by a low blood platelet count.

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