H.C. Wainwright analyst Joseph Pantginis reiterated a Buy rating on Rexahn Pharma (NYSE MKT: RNN) today and set a price target of $19.50. The company’s shares opened today at $2.18.
Pantginis noted:
“We believe that this study should show meaningful clinical efficacy as well as differentiate on the safety front. First-line metastatic pancreatic cancer represents approximately 60% of patients, and if approved, RX-3117 could achieve blockbuster status. Upcoming catalysts at ASCO. The next catalysts for the company are anticipated at ASCO in early June with data updates from the ongoing in advanced bladder cancer (Abstract #4543) and the ongoing in advanced triple-negative breast cancer (TNBC) (Abtract #1097). The clinical profiles of both these drugs have impressed, to date, albeit in relatively small numbers of patients.”
According to TipRanks.com, Pantginis is ranked 0 out of 5 stars with an average return of -11.3% and a 38.1% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, Applied Genetic Technologies, and Iovance Biotherapeutics Inc.
Rexahn Pharma has an analyst consensus of Moderate Buy, with a price target consensus of $19.50.
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Based on Rexahn Pharma’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $2.07 million. In comparison, last year the company had a GAAP net loss of $21.61 million.
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Rexahn Pharmaceuticals, Inc. operates as a clinical stage biopharmaceutical company. It dedicates to the discovery, development and commercialization of innovative treatments for cancer and other medical needs.
