H.C. Wainwright Thinks Tyme Technologies Inc’s Stock is Going to Recover


H.C. Wainwright analyst Swayampakula Ramakanth maintained a Buy rating on Tyme Technologies Inc (TYME) today and set a price target of $9.50. The company’s shares opened today at $2.06, close to its 52-week low of $1.93.

Ramakanth said:

“We maintain our Buy rating of TYME and our 12-month price target of $9.50 per share. We derive our price target based on a net present value analysis of projected SM-88 revenues through FY2030 assuming a 12% discount rate and 2% terminal growth rate. We derive an rNPV of $1.4B for SM-88 and include $21M in net cash to arrive at a 12-month price target of $9.73 per diluted share, which we round to $9.50.”

According to TipRanks.com, Ramakanth has currently no stars on a ranking scale of 0-5 stars, with an average return of -3.7% and a 33.0% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Diffusion Pharmaceuticals Inc, IntelGenx Technologies, and Collplant Holdings Ltd.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Tyme Technologies Inc with a $9.50 average price target.

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Based on Tyme Technologies Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $7.02 million. In comparison, last year the company had a GAAP net loss of $5.56 million.

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Tyme Technologies, Inc. operates as a clinical-stage biopharmaceutical company focused on development and commercialization of highly targeted cancer therapeutics with a broad range of oncology indications. Its clinical program, SM-88 is a novel combination therapy based on dysfunctional metyrosine derivatives and has shown complete or partial imaging responses in 15 different cancer subtypes, including solid tumors, sarcomas, gliomas and hematological malignancies, without demonstrating drug-related severe adverse events. The company was founded on November 22, 2011 and is headquartered in New York, NY.