.jpg "Celsion Corp (NASDAQ: CLSN)")
In a report released today, Hartaj Singh from Oppenheimer maintained a Buy rating on Celsion Corp (NASDAQ: CLSN), with a price target of $9. The company’s shares closed yesterday at $2.51.
Singh commented:
“Celsion Corporation (CLSN) reported 2Q18 results and provided a business update to investors on 8/14. Clinical activity for ThermoDox and GEN-1 are picking up, as is OPEX. CLSN reported higher OPEX than expected ($4.5M OPCO vs. $8M reported), but there were some one-off expenses and non-cash charges (cash charges up by ~25% in 1H18 to $8.8M Y/Y). ThermoDox continues apace, with enrollment nearing completion and the 1st interim at 118 deaths expected by mid-2019. GEN-1—the source of important near-term newsflow—experienced a small operating hiccup, but CLSN still plans on completing enrollment by YE18 (~6 patients), which should be doable we believe in light of the strong phase 1 data. We revise our estimates and stay bullish on the name.”
According to TipRanks.com, Singh is a 4-star analyst with an average return of 10.7% and a 50.0% success rate. Singh covers the Healthcare sector, focusing on stocks such as Syndax Pharmaceuticals Inc, Strongbridge Biopharma Plc, and Catabasis Pharmaceuticals.
Currently, the analyst consensus on Celsion Corp is a Moderate Buy with an average price target of $9.
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Based on Celsion Corp’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $8.23 million. In comparison, last year the company had a GAAP net loss of $5.24 million.
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Celsion Corp . engages in the research and development of pharmaceutical products for cancer treatments. Its portfolio includes deoxyribonucleic acid-mediated immunotherapy and ribonucleic acid-based therapies. It operates through the Celsion and ThermoDox brands. The company was founded by Yim-Pan Cheung in 1982 and is headquartered in Lawrenceville, NJ.
