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Maxim Group Thinks TrovaGene’s Stock is Going to Recover


In a report released today, Jason McCarthy from Maxim Group maintained a Buy rating on TrovaGene (NASDAQ: TROV), with a price target of $3. The company’s shares opened today at $0.87, close to its 52-week low of $0.79.

McCarthy observed:

“Trovagene announced the start of enrollment of the UNITE trial evaluating of PCM-075 + Zytiga in metastatic castration-resistant prostate cancer (mCRPC). This is the second clinical program now underway for PCM-075 (study details below). The P1/2 study in acute myeloid leukemia (AML) in combination with decitibine recently completed dosing of the first cohort (see our June 15, 2018 report) and has moved on to the second cohort.”

According to TipRanks.com, McCarthy is a 4-star analyst with an average return of 10.4% and a 42.9% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, SELLAS Life Sciences Group Inc, and ContraVir Pharmaceuticals Inc.

Currently, the analyst consensus on TrovaGene is Moderate Buy and the average price target is $2.75, representing a 216.1% upside.

In a report issued on June 11, H.C. Wainwright also reiterated a Buy rating on the stock with a $2.50 price target.

See today’s analyst top recommended stocks >>

Based on TrovaGene’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $4.79 million. In comparison, last year the company had a GAAP net loss of $10 million.

Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TROV in relation to earlier this year.

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.

Trovagene, Inc. is a clinical-stage, precision medicine oncology therapeutics company. Its focuses on developing PCM-075, is a Polo-like Kinase 1 (PLK1) selective adenosine triphosphate (ATP) competitive inhibitor.

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