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 closed yesterday at $0.81, close to its 52-week low of $0.65.
McCarthy commented:
“Trovagene announced that the company has entered into an exclusive patent license agreement with MIT to develop combination therapies that include a Polo-like Kinase (PLK) inhibitor with anti-androgens. We view this as a significant positive for Trovagene, but more importantly, how it translates into potential in the prostate cancer space, where the treatment paradigm continues to shift…Xtandi, Zytiga, Erleada.”
According to TipRanks.com, McCarthy is a 5-star analyst with an average return of 21.1% and a 55.7% 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 TrovaGene is a Moderate Buy with an average price target of $2.75.
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Based on TrovaGene’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $3.75 million. In comparison, last year the company had a GAAP net loss of $4.29 million.
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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.
