In a report released today, Joseph Pantginis from H.C. Wainwright reiterated a Buy rating on Rexahn Pharma (NYSE MKT: RNN), with a price target of $19.50. The company’s shares closed on Friday at $1.45, close to its 52-week low of $1.23.
Pantginis wrote:
“Valuation and risks to price target achievement. We reiterate our Buy rating and $19.50 price target. Our target is based on our clinical net present value (NPV) model, which is currently driven by the company’s two lead assets, RX-3117, and RX-5902 (Supinoxin). This model allows us to flex multiple assumptions affecting a drug’s potential commercial profile. Factors which could impede reaching our price target include failed or inconclusive clinical trials or inability of the company to secure adequate funding to progress its drugs through the development pathway.”
According to TipRanks.com, Pantginis ‘ ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -14.4% and a 30.9% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, Applied Genetic Technologies, and Iovance Biotherapeutics Inc.
Rexahn Pharma has an analyst consensus of Moderate Buy, with a price target consensus of $13.50, implying an 831.0% upside from current levels. In a report issued on July 31, B.Riley FBR also initiated coverage with a Buy rating on the stock with a $7.50 price target.
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The company has a one-year high of $3.19 and a one-year low of $1.23. Currently, Rexahn Pharma has an average volume of 229.1K.
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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. The company was founded by Chang Ho Ahn on March 19, 2001 and is headquartered in Rockville, MD.
