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 $0.92, close to its 52-week low of $0.80.
McCarthy noted:
“Soligenix reported FY18 results with a net loss ($8.9M). The company received $5.2M in non-dilutive funding related to grants and contracts supporting pipeline programs, including SGX301 and SGX942. Soligenix ended the period with $9M in cash. We also expect non-dilutive funding to continue to extend the runway.”
According to TipRanks.com, McCarthy ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -3.9% and a 34.6% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, ContraVir Pharmaceuticals Inc, and Adial Pharmaceuticals Inc.
The word on The Street in general, suggests a Hold analyst consensus rating for Soligenix.
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The company has a one-year high of $2.20 and a one-year low of $0.80. Currently, Soligenix has an average volume of 159K.
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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.
