Oppenheimer Thinks Celsion Corp’s Stock is Going to Recover


Oppenheimer analyst Hartaj Singh maintained a Buy rating on Celsion Corp (CLSN) today and set a price target of $9. The company’s shares opened today at $2.11, close to its 52-week low of $1.85.

Singh noted:

“Celsion (CLSN) provided a 3Q18 update to investors on 10/15. The company’s OPEX spend was in line with our expectations and its cash-on-hand can now fund operations through YE20. In addition, the OPTIMA trial is fully enrolled (September 2018), and there are two interim reviews that could happen in 2019 (roughly mid-2019) and YE19. 2, randomized, open-label phase 1b/2 study is recruiting patients into the first part of the study (N=12), before expanding into 118 patients later in 2019. We update our P&L numbers and stay bullish.”

According to TipRanks.com, Singh is a 3-star analyst with an average return of 1.5% and a 35.4% success rate. Singh covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, Strongbridge Biopharma Plc, and Syndax Pharmaceuticals Inc.

Currently, the analyst consensus on Celsion Corp is a Moderate Buy with an average price target of $9.

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The company has a one-year high of $3.96 and a one-year low of $1.85. Currently, Celsion Corp has an average volume of 158.6K.

Based on the recent corporate insider activity of 10 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

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