In a report released today, Swayampakula Ramakanth from H.C. Wainwright reiterated a Buy rating on Trillium Therapeutics (TRIL), with a price target of $4. The company’s shares closed yesterday at $0.67, close to its 52-week low of $0.65.
Ramakanth observed:
“We note the company issued approximately 6.6M common shares, 12.2M preferred shares (convertible to common shares 1:1), and 19M warrants in the latest fund raise, which increased the company’s fully diluted share count to approximately 60M from 22M at the end of 4Q18. As a result of this dilution and taking account of potential fund raises in the future, we are lowering our 12-month price target to $4.00 per share, down from $10.00.”
According to TipRanks.com, Ramakanth has 0 stars on 0-5 star ranking scale with an average return of -2.5% and a 35.8% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Collplant Holdings Ltd, Gritstone Oncology Inc, and Leap Therapeutics Inc.
Trillium Therapeutics has an analyst consensus of Hold.
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Based on Trillium Therapeutics’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $9.99 million. In comparison, last year the company had a GAAP net loss of $8.38 million.
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Trillium Therapeutics Inc. is a clinical stage immuno-oncology company, which engages in the development of innovative therapies for the treatment of cancer. Its pipeline is comprised of TTI-621, TTI-622, and TTI-2341(EGFR Inhibitor). The company was founded on March 31, 2004 and is headquartered in Toronto, Canada.
