Maxim Group analyst Jason McCarthy maintained a Buy rating on TrovaGene (NASDAQ: TROV) today and set a price target of $3. The company’s shares closed on Friday at $0.81, close to its 52-week low of $0.65.
McCarthy noted:
“Trovagene reported 2Q18 with a net loss of $6.5M and ended the period with $18.5M in cash on the balance sheet. With operating expenses of $4.5M, which we estimate should rise as clinical programs around PCM-075 advance, Trovagene has runway into mid-2019.”
According to TipRanks.com, McCarthy is a 4-star analyst with an average return of 10.5% and a 42.3% 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, a 241.4% upside from current levels. In a report issued on August 2, 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 $12.96 and a one-year low of $0.65. Currently, TrovaGene has an average volume of 1.12M.
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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