Maxim Group analyst Jason McCarthy maintained a Buy rating on Atossa Genetics (NASDAQ: ATOS) today and set a price target of $7. The company’s shares opened today at $1.65, close to its 52-week low of $1.41.
“Atossa Genetics announced complete enrollment in its ongoing phase 2 study of topical Endoxifen for the treatment of mammographic breast density (MBD). The 90 patient study enrolled in under 6 weeks. Endpoints of the study are reduction in MBD at 3 and 6 months, data 1H19. Fundamentally our view of Atossa remains unchanged. The company continues to set the stage in 2018 (trial initiations, early stage data) for multiple data readouts in 2019 across its Endoxifen platform (see below). While this (and today’s news) are positives for the valuation, ATOS shares have pulled back over the past several months. As such, with data expected in 2019, the company faces a “slight” data trough and we have increased our risk adjustment to 60%, from 50% which decreases our price target to $7, from $10, still leaving plenty of upside at the current valuation.”
According to TipRanks.com, McCarthy is a 5-star analyst with an average return of 13.2% and a 49.6% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, ContraVir Pharmaceuticals Inc, and Sonoma Pharmaceuticals Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Atossa Genetics with a $7 average price target.
The company has a one-year high of $19.08 and a one-year low of $1.41. Currently, Atossa Genetics has an average volume of 211.4K.
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Atossa Genetics, Inc. operates as a clinical-stage pharmaceutical company, which focuses on the development of novel therapeutics and delivery methods for the treatment of breast cancer and other breast conditions. It offers ForeCYTE and ArgusCYTE diagnostic tests.
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