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 closed on Tuesday at $1.00, close to its 52-week low of $0.91.
McCarthy noted:
“Soligenx announced publication of a scientific review article discussing the clinical applications of innate defense regulator technology, including dusquetide (SGX942). The article entitled, “Targeting Potential Therapeutic Applications,” was published in the journal Drug Target Review. SGX942 (dusquetide) is currently in an ongoing phase 3 trial for the treatment of oral mucositis due to chemoradiation therapy (CRT). Oral mucositis is the resulting inflammation of CRT, which can be so severe that patients will stop treatment from the pain, and they can’t eat. In the P2 study (N=111) SGX942 median duration of oral mucositis was reduced by 50%, and 67% in those receiving the most aggressive CRT. Phase 3 data is expected in 2H19.”
According to TipRanks.com, McCarthy is a 1-star analyst with an average return of -1.8% and a 34.4% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, ContraVir Pharmaceuticals Inc, and Sonoma Pharmaceuticals Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Soligenix with a $4 average price target.
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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 212.4K.
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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.
