Maxim Group analyst Jason McCarthy maintained a Buy rating on VolitionRX (VNRX) today and set a price target of $6. The company’s shares opened today at $3.30, close to its 52-week high of $3.63.
McCarthy said:
“VolitionRx reported 1Q19 with a net loss of ($4.2M) and a cash balance of $16.2M, not including the additional $5M in proceeds from warrant exercises in April/May. We estimate VolitionRx has runway into mid-2020, which could be extended further with additional warrant exercises ($3 strike, ~$5M).”
According to TipRanks.com, McCarthy ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -10.6% and a 28.5% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Teva Pharmaceutical Industries Limited, SELLAS Life Sciences Group Inc, and ContraVir Pharmaceuticals Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for VolitionRX with a $5.50 average price target.
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Based on VolitionRX’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $4.29 million. In comparison, last year the company had a GAAP net loss of $4.65 million.
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VolitionRX Ltd. is a multi-national life sciences company. It 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. The company was founded on August 5, 2010 and is headquartered in Singapore.
