In a report released today, Joseph Pantginis from H.C. Wainwright reiterated a Buy rating on Rexahn Pharma (RNN), with a price target of $10. The company’s shares opened today at $0.55, close to its 52-week low of $0.50.
Pantginis observed:
“Valuation and risks to price target achievement. We reiterate our Buy rating and $10 price target. The majority of contribution to our valuation comes from RX-3117, which represents over 65% of our price target. Remaining valuation comes from RX-5902 (Supinoxin) for triple negative breast cancer. This model allows us to flex multiple assumptions affecting a drug’s potential commercial profile.”
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, Iovance Biotherapeutics Inc, and Checkpoint Therapeutics Inc.
Currently, the analyst consensus on Rexahn Pharma is a Strong Buy with an average price target of $9.17.
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Based on Rexahn Pharma’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $5.34 million. In comparison, last year the company had a GAAP net loss of $3.59 million.
Based on the recent corporate insider activity of 6 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 RNN 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.
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.
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