Maxim Group analyst Jason McCarthy assigned a Buy rating to VolitionRX (NYSE: VNRX) today and set a price target of $6. The company’s shares opened today at $2.34.
McCarthy noted:
“Society (ACS) has published new guidelines lowering the recommended age for colorectal cancer (CRC) screening to 45, from 50 (Guidelines Link) based on increasing mortality associated with CRC in younger patients. Factoring in this change adds ~20M more people to the screening age population increasing the US market size of eligible patients from 100M, to 120M patients.”
According to TipRanks.com, McCarthy is a 4-star analyst with an average return of 6.3% and a 45.5% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, SELLAS Life Sciences Group Inc, and ContraVir Pharmaceuticals Inc.
Currently, the analyst consensus on VolitionRX is Strong Buy and the average price target is $7.67, representing a 227.8% upside.
In a report issued on May 23, Oppenheimer also initiated coverage with a Buy rating on the stock with a $7 price target.
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The company has a one-year high of $4 and a one-year low of $1.85. Currently, VolitionRX has an average volume of 128.6K.
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VolitionRX Ltd. engages in the development of blood-based cancer tests. Its product Nu.Q is a colorectal cancer screening triage test. The company was founded on August 5, 2010 and is headquartered in Singapore.
