In a report released today, Swayampakula Ramakanth from H.C. Wainwright reiterated a Buy rating on Ziopharm Oncology (NASDAQ: ZIOP), with a price target of $5.50. The company’s shares opened today at $2.90, close to its 52-week low of $2.23.
Ramakanth noted:
“We are maintaining our Buy rating of ZIOP and our 12-month price target of $5.50 per diluted share. We derive our price target based on a risk-adjusted net present value analysis of projected product revenues until 2027 assuming a 12% discount rate and a 4% terminal growth rate. We derive an rNPV of $897M for pipeline products and add $40M in cash and cash equivalents to arrive at a 12-month price target of $5.63 per diluted share, which we round to $5.50. (1) clinical; (2) partnership; (3) commercial; (4) financial; and (5) intellectual property.”
According to TipRanks.com, Ramakanth is a 4-star analyst with an average return of 7.3% and a 38.9% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as IntelGenx Technologies, Leap Therapeutics Inc, and Trillium Therapeutics.
Ziopharm Oncology has an analyst consensus of Moderate Buy, with a price target consensus of $5.50.
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Based on Ziopharm Oncology’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $12.03 million. In comparison, last year the company had a GAAP net loss of $12.86 million.
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ZIOPHARM Oncology, Inc. is a biopharmaceutical company, which engages in the development, acquisition, and commercialization of a diverse portfolio of cancer therapies. It focuses on developing products in immuno-oncology that employ novel gene expression, control, and cell technologies for the treatment of cancer.
