In a report released today, Jason McCarthy from Maxim Group assigned a Buy rating to Soligenix (NASDAQ: SNGX), with a price target of $4. The company’s shares opened today at $1.13, close to its 52-week low of $0.91.
McCarthy said:
“Management issued an update and guidance on the company’s development programs, which include two ongoing pivotal trials for SGX942 (dusquetide – mucositis) and SGX301 (light-activated synthetic hypericin – T cell lymphoma), as well as RiVax (vaccine – ricin toxin) that is advancing towards a Phase 2 study. By our estimates, with a cash balance of ~$12M, excluding non-dilutive funding, Soligenix has a runway to 2H19.”
According to TipRanks.com, McCarthy is a 4-star analyst with an average return of 12.3% and a 42.8% 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 Soligenix is a Moderate Buy with an average price target of $4.
See today’s analyst top recommended stocks >>
The company has a one-year high of $3.70 and a one-year low of $0.91. Currently, Soligenix has an average volume of 109.1K.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Soligenix, Inc. engages in the development and commercialization of products to treat rare disease. It operates through the BioTherapeutics, and Vaccines/BioDefense segments.
