H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on OncoSec Medical (NASDAQ: ONCS) today and set a price target of $4. The company’s shares closed yesterday at $1.47.
Selvaraju observed:
“We have adjusted our projections and we currently estimate a net loss of $36.1M for fiscal-year 2018 ending on July 31, 2018. The company had $33.3M in cash and investments at the end of April 2018. We believe the company may choose to raise additional capital within the next 12 months. Importantly, the registration-directed KEYNOTE-695 study (or PISCES Phase 2b trial) has been enrolling patients who have unresectable metastatic melanoma and have progressed or are progressing on an anti-PD-1 therapy. The KEYNOTE-695 study could report interim results in 2H 2018. In the wake of this update, we reiterate our Buy rating and $4 price target.”
According to TipRanks.com, Selvaraju is a 3-star analyst with an average return of 1.8% and a 40.6% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, Biospecifics Technologies Corp, and EyePoint Pharmaceuticals Inc.
Currently, the analyst consensus on OncoSec Medical is Moderate Buy and the average price target is $4.50, representing a 206.1% upside.
In a report issued on June 4, Maxim Group also maintained a Buy rating on the stock with a $5 price target.
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Based on OncoSec Medical’s latest earnings release for the quarter ending January 31, the company reported a quarterly GAAP net loss of $10.74 million. In comparison, last year the company had a GAAP net loss of $4.56 million.
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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.
