In a report released today, Jason McCarthy from Maxim Group maintained a Buy rating on TrovaGene (NASDAQ: TROV), with a price target of $3. The company’s shares opened today at $0.80, close to its 52-week low of $0.72.
McCarthy said:
“Trovagene provided an update on anticipated key clinical milestones for PCM-075 (polo-like kinase, PLK, inhibitor) in 2H18. PCM-075 is currently in two ongoing studies targeting acute myeloid leukemia (AML) and metastatic castration resistant prostate cancer (mCRPC). ○ AML: P1b/2 trial of PCM-075 + low dose chemo is ongoing. The P1b dose escalation portion of the trial should complete and report both preliminary safety and efficacy data in 4Q18. Data to be presented at ASH 2018. P2 (N=32) to follow. ○ mCRPC: P2 trial of PCM-075 + Zytiga is ongoing. Next, complete cycle 1 of treatment and evaluate N=3 for safety. Preliminary safety and efficacy data expected in 4Q18.”
According to TipRanks.com, McCarthy is a 4-star analyst with an average return of 9.5% and a 43.4% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, SELLAS Life Sciences Group Inc, and ContraVir Pharmaceuticals Inc.
TrovaGene has an analyst consensus of Moderate Buy, with a price target consensus of $2.75, representing a 243.8% upside. In a report issued on June 28, H.C. Wainwright also reiterated a Buy rating on the stock with a $2.50 price target.
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The company has a one-year high of $19.56 and a one-year low of $0.72. Currently, TrovaGene has an average volume of 1.05M.
Based on the recent corporate insider activity of 22 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.
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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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