In a report released today, Mark Breidenbach from Oppenheimer maintained a Buy rating on VolitionRX (NYSE: VNRX), with a price target of $6. The company’s shares opened today at $1.90.
Breidenbach noted:
“Monday, VolitionRx announced 2Q results and provided a business update. Management offered updated development timelines for its colorectal cancer (CRC) diagnostic programs, guiding ~3-month delays for certain key milestones. Separately, the company announced results from a pilot trial in prostate cancer detection. Impressively, a diagnostic panel consisting of two Nu.Qs and three non-proprietary biomarkers, including the widely used prostate-specific antigen (PSA) test, was able to detect cancers with excellent sensitivity (94%) and specificity (88%). While we caution against making broad conclusions from small pilot studies, we believe these data highlight the potential of VolitionRx’s tech platform in applications well beyond colorectal cancer (CRC). Reiterate Outperform, but adjust PT to $6 (previously $7) to reflect delayed CRC development timelines.”
According to TipRanks.com, Breidenbach is a 4-star analyst with an average return of 9.9% and a 42.7% success rate. Breidenbach covers the Healthcare sector, focusing on stocks such as Iovance Biotherapeutics Inc, Alpine Immune Sciences Inc, and Global Blood Therapeutics.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for VolitionRX with a $6 average price target, representing a 215.8% upside. In a report issued on August 1, 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 $4 and a one-year low of $1.44. Currently, VolitionRX has an average volume of 76.02K.
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VolitionRX Ltd. is a multi-national life sciences company, which 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.
