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Maxim Group Thinks Soligenix’s Stock is Going to Recover


In a report released today, Jason McCarthy from Maxim Group maintained a Buy rating on Soligenix (SNGX), with a price target of $4. The company’s shares opened today at $1.17, close to its 52-week low of $0.91.

McCarthy said:

“Soligenix reported 3Q18 with $1.4M in combined contract and grant revenue, with operating expenses of $2.1M and a net loss of ($1.9M). Soligenix ended the period with $11.7M in cash. In addition, we expect the company to continue to receive non-dilutive capital in the form of grants which has been a significant source of funds for the company to develop its pipeline.”

According to TipRanks.com, McCarthy is a 4-star analyst with an average return of 5.3% and a 40.9% 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.

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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 277K.

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Soligenix, Inc. engages in the development and commercialization of products to treat rare disease. It operates through the BioTherapeutics, and Vaccines/BioDefense segments.