H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on RXi Pharmaceuticals Corp (NASDAQ: RXII) today and set a price target of $3. The company’s shares closed yesterday at $1.58, close to its 52-week low of $1.29.
Selvaraju wrote:
“Valuation, risks and uncertainties. We value the I/O platform that RXi is developing at $30M. This yields a price objective of $3.00 per share, assuming roughly fully-diluted 9.6M shares outstanding as of 3Q 2019.”
According to TipRanks.com, Selvaraju has 0 stars on 0-5 star ranking scale with an average return of -2.9% and a 36.4% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, Biospecifics Technologies Corp, and EyePoint Pharmaceuticals Inc.
Currently, the analyst consensus on RXi Pharmaceuticals Corp is a Moderate Buy with an average price target of $3.
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The company has a one-year high of $7.70 and a one-year low of $1.29. Currently, RXi Pharmaceuticals Corp has an average volume of 391.9K.
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RXi Pharmaceuticals Corp. is a biotechnology company, which engages in developing therapeutics that address unmet medical needs. Its clinical product candidate includes RXI-109, a RNAi compound developed for the reduction of dermal scarring in planned surgeries. The company was founded on September 8, 2011 and is headquartered in Marlborough, MA.
