.jpg "TrovaGene (NASDAQ: TROV)")
In a report released yesterday, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on TrovaGene (NASDAQ: TROV), with a price target of $2.50. The company’s shares opened today at $0.90, close to its 52-week low of $0.79.
Selvaraju said:
“We note that the company has effected a reverse split of its common shares at a ratio of 1 for 12 on June 1, 2018. After the reverse split, the company has roughly 4.9M shares outstanding. Therefore, the company should have 22.9M shares outstanding after the public offering. We assume that 18M warrants could be exercised within the next 12 months given the upcoming clinical data readouts. Hence, the company could have roughly 41M shares outstanding by the end of 2Q19. Our estimated enterprise value of the firm remains at $101M. Excluding $1M outstanding debt, the $100M estimated market value of the firm leads to a per share value of roughly $2.50. Therefore, we reiterate our Buy rating and have lowered the 12-month price target to $2.50 from $7 per share.”
According to TipRanks.com, Selvaraju is a 3-star analyst with an average return of 2.3% and a 40.1% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, Biospecifics Technologies Corp, and EyePoint Pharmaceuticals Inc.
TrovaGene has an analyst consensus of Moderate Buy, with a price target consensus of $2.50.
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Based on TrovaGene’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $4.79 million. In comparison, last year the company had a GAAP net loss of $10 million.
Based on the recent corporate insider activity of 21 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 TROV 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.
Trovagene, Inc. is a clinical-stage, precision medicine oncology therapeutics company. Its focuses on developing PCM-075, is a Polo-like Kinase 1 (PLK1) selective adenosine triphosphate (ATP) competitive inhibitor.
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