Avenue Therapeutics Inc (NASDAQ: ATXI) received a Buy rating and an $8 price target from Oppenheimer analyst Leland Gershell today. The company’s shares opened today at $3.68, close to its 52-week low of $3.28.
Gershell said:
“We are initiating coverage on ATXI with an Outperform rating and a 12- to 18-month $8 price target. We believe ATXI is an under-recognized story whose fundamentals (late-stage development program, therapeutic candidate with significant record of human experience, sizable market opportunity, long-dated IP) belie its sub-$50M market cap. Although the next significant milestone for ATXI (data from a second pivotal trial) is roughly one year away, we believe the stock is very attractive at current levels and recommend investors use this opportunity to build a position.”
According to TipRanks.com, Gershell ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -30.8% and a 0.0% success rate. Gershell covers the Healthcare sector, focusing on stocks such as Evofem Biosciences Inc, Urogen Pharma Ltd, and Catalyst Pharma.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Avenue Therapeutics Inc with a $11 average price target.
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Avenue Therapeutics, Inc. operates as a pharmaceutical company. It engages in acquiring, licensing, developing, and commercializing products for use in the intensive care hospital setting. The company was founded on February 9, 2015 and is headquartered in New York, NY.
