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 opened today at $2.55.
Singh wrote:
“Celsion (CLSN) reported 1Q18 earnings and provided a business update to investors on 5/11. Both clinical programs are proceeding as planned; CLSN reiterated timelines for key readouts but provided few incremental updates since the FY17 call in late March. With material catalysts coming into view in 2H18 through 2019, we remain bullish and update our model to reflect an efficient use of capital (OPEX $4.5M consistent with guided run rate for 2018-19).”
According to TipRanks.com, Singh is a 5-star analyst with an average return of 19.0% and a 51.2% success rate. Singh covers the Healthcare sector, focusing on stocks such as Syndax Pharmaceuticals Inc, Strongbridge Biopharma Plc, and Catabasis Pharmaceuticals.
Celsion Corp has an analyst consensus of Moderate Buy, with a price target consensus of $9.
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The company has a one-year high of $6.06 and a one-year low of $1.24. Currently, Celsion Corp has an average volume of 176.1K.
Based on the recent corporate insider activity of 6 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 CLSN in relation to earlier this year.
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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.
