In a report released today, Jason McCarthy from Maxim Group maintained a Buy rating on OncoSec Medical (NASDAQ: ONCS), with a price target of $5. The company’s shares opened today at $1.51.
McCarthy commented:
“OncoSec announced that Alpha Holdings Inc (KOSDAQ: 117670 – NR) will invest $15M in OncoSec shares at $1.50 per share. Alpha is a Korean-based company in the semiconductor business that is developing/expanding into the development of biotechnologies. The takeway for OncoSec shareholders is: ○ The company is building a presence in South Korea and Asia. ○ Strengthened Balance Sheet – we estimate OncoSec currently has ~ $26M in cash, excluding the $15M from Alpha. As such the runway should extend into late CY19. ○ Further validation of OncoSec’s DNA-based immune-oncology platform.”
According to TipRanks.com, McCarthy is a 5-star analyst with an average return of 19.0% and a 52.9% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, ContraVir Pharmaceuticals Inc, and Sonoma Pharmaceuticals Inc.
OncoSec Medical has an analyst consensus of Moderate Buy, with a price target consensus of $4.50.
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The company has a one-year high of $2.95 and a one-year low of $0.90. Currently, OncoSec Medical has an average volume of 545.5K.
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OncoSec Medical, Inc. engages in the design and commercialize medical products for the treatment of cancer. It involves in the discovery and development of novel immunotherapeutic products to improve treatment options for patients and physicians, which intends to treat oncology indications.
