H.C. Wainwright analyst Swayampakula Ramakanth reiterated a Buy rating on Trillium Therapeutics (NASDAQ: TRIL) today and set a price target of $10. The company’s shares closed on Friday at $5.25, close to its 52-week low of $4.15.
Ramakanth wrote:
“We maintain our Buy rating of Trillium Therapeutics and our 12-month price target of $10.00 per diluted share. We derive our price target based on a risk-adjusted net present value analysis of projected TTI-621 revenues through 2030 assuming a 12% discount rate and a 3% terminal growth rate.”
According to TipRanks.com, Ramakanth is a 4-star analyst with an average return of 7.3% and a 40.3% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Diffusion Pharmaceuticals Inc, IntelGenx Technologies, and Leap Therapeutics Inc.
Trillium Therapeutics has an analyst consensus of Moderate Buy, with a price target consensus of $10, representing a 90.5% upside. In a report issued on August 8, Cowen & Co. also maintained a Buy rating on the stock.
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Based on Trillium Therapeutics’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $9.54 million. In comparison, last year the company had a GAAP net loss of $8.66 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.
