In a report released yesterday, Mark Breidenbach from Oppenheimer maintained a Buy rating on VolitionRX (VNRX), with a price target of $5. The company’s shares closed yesterday at $3.28, close to its 52-week high of $3.63.
Breidenbach noted:
“Thursday, VolitionRx reported 1Q results and provided a business update. The company reports steady progress with transitioning from research-grade Nu.Q assays to commercial-grade diagnostic products, and management reaffirmed plans to finalize its first colorectal cancer (CRC) diagnostic panel in 2H19, a perquisite for validation studies. The final panel will likely add 1-2 additional 2-assay panel that previously showed encouraging performance in a 123-subject cohort. Over the next 6-12 months, we expect to see multiple readouts from trials of product- grade diagnostics that are being developed in a variety of cancers, including results from a 600-subject Taiwanese lung cancer cohort in 1Q20. Through a Texas-based subsidiary, Volition plans to pursue commercialization of Nu.Q-based diagnostics in veterinary medicine. Reiterate Outperform, $5 PT.”
According to TipRanks.com, Breidenbach is a 2-star analyst with an average return of 0.0% and a 41.5% success rate. Breidenbach covers the Healthcare sector, focusing on stocks such as Iovance Biotherapeutics Inc, Alpine Immune Sciences Inc, and Global Blood Therapeutics.
Currently, the analyst consensus on VolitionRX is a Moderate Buy with an average price target of $5.50, representing a 67.7% upside. In a report released yesterday, Maxim Group also maintained a Buy rating on the stock with a $6 price target.
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The company has a one-year high of $3.63 and a one-year low of $1.44. Currently, VolitionRX has an average volume of 102.1K.
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VolitionRX Ltd. is a multi-national life sciences company. It engages in the development of blood-based cancer tests to help diagnose a range of cancers. Its products include the Nucleosomics platform that identifies and measures nucleosomes in the bloodstream or other bodily fluid. The company was founded on August 5, 2010 and is headquartered in Singapore.
