Resverlogix (RVX), the Healthcare company, has received a rating update from a Wall Street analyst today. Roth Capital’s analyst Jotin Marango reiterates their Buy rating on the shares, with a C$10 price target.
Marango observed:
“We remain bullish on the risk/reward of apabetalone into the Phase 3 readout, based on Phase 2 data and the Phase 3 design, the commercial opportunity, and the lateral indication optionality of the drug. What happens between now and the topline announcement? The crossing of 250 MACE events has now triggered the start of last study visits for all patients (population: type 2 diabetes at high cardiovascular risk). While these visits happen and before the final database lock, we expect additional MACE events to accumulate (likely around 260). Topline data will then follow two weeks after the database lock, or an estimated 2-4 months from now. Not all DSMB reviews are alike. We highlight that in March the study cleared its ninth review of the Monitoring board (DSMB).”
According to TipRanks.com, Marango is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -4.9% and a 42.9% success rate. Marango covers the Healthcare sector, focusing on stocks such as KalVista Pharmaceuticals Inc, Syros Pharmaceuticals, and Aimmune Therapeutics.
Resverlogix has an analyst consensus of Hold.
Resverlogix’s market cap is currently C$752.3M and has a P/E ratio of 0. The company has a Price to Book ratio of -3.68.
Resverlogix Corp. is a clinical stage biotechnology company, which engages in the research and development of pharmaceutical products for cardiovascular diseases. It develops Apabetalone for diabetes mellitus, chronic kidney, peripheral artery, Orphan and Alzheimer’s diseases.
The company’s shares closed on Wednesday at C$3.99, close to its 52-week high of C$4.50.
