In a report released today, Jason McCarthy from Maxim Group maintained a Buy rating on Soligenix (NASDAQ: SNGX), with a price target of $5. The company’s shares opened today at $1.65, close to its 52-week low of $1.54.
McCarthy noted:
“Soligenix reported 1Q18 with a net loss of $2.4M. In 1Q, the company received $1.1M in non-dilutive revenue related to a sub- award for Ebola. Non-dilutive capital remains a significant source of cash for the company. In 2017 the company received over $5M. Soligenix ended the period with $6.4M in cash, excluding non-dilutive funds..”
According to TipRanks.com, McCarthy is a 2-star analyst with an average return of 0.9% and a 36.8% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, SELLAS Life Sciences Group Inc, and ContraVir Pharmaceuticals Inc.
Soligenix has an analyst consensus of Moderate Buy, with a price target consensus of $3.85.
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Based on Soligenix’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $2.14 million. In comparison, last year the company had a GAAP net loss of $1.73 million.
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Soligenix, Inc. is a clinical stage biopharmaceutical company, which engages in developing products to treat serious gastrointestinal diseases. It operates through the BioTherapeutics and Vaccines or BioDefense segments.
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