In a report released today, Jason McCarthy from Maxim Group maintained a Buy rating on VolitionRX (VNRX), with a price target of $6. The company’s shares opened today at $2.68.
McCarthy noted:
“VolitionRx reported 3Q18 with a net loss of ($4.4M). The company ended the period with $16.4M in cash on the balance sheet, just under a year of capital. Runway could be extended by warrants expiring over the next year in the $2- $3 range which could provide up to an additional $18.7M in cash.”
According to TipRanks.com, McCarthy is a 4-star analyst with an average return of 6.4% and a 41.8% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, ContraVir Pharmaceuticals Inc, and Sonoma Pharmaceuticals Inc.
Currently, the analyst consensus on VolitionRX is a Moderate Buy with an average price target of $6.
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Based on VolitionRX’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $4.59 million. In comparison, last year the company had a GAAP net loss of $3.89 million.
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VolitionRX Ltd. is a multi-national life sciences company, which engages in the development of blood-based cancer tests to help diagnose a range of cancers. Its products include the Nucleosomics platform that identifies and measures nucleosomes in the bloodstream or other bodily fluid.
