In a report released today, Jason McCarthy from Maxim Group maintained a Buy rating on Soligenix (NASDAQ: SNGX), with a price target of $4. The company’s shares opened today at $1.39.
McCarthy noted:
“Soligenix announced that the phase 3 FLASH study (Fluorescent Hypericin) was recommended by the to continue enrolling and expand enrollment to N=160, from N=120. The review consisted of data from ~100 patients.”
According to TipRanks.com, McCarthy is a 5-star analyst with an average return of 11.7% and a 47.6% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, ContraVir Pharmaceuticals Inc, and Sonoma Pharmaceuticals Inc.
Soligenix has an analyst consensus of Moderate Buy, with a price target consensus of $4.
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Based on Soligenix’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $1.56 million. In comparison, last year the company had a GAAP net loss of $963.1K.
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Soligenix, Inc. engages in the development and commercialization of products to treat rare disease. It operates through the BioTherapeutics, and Vaccines/BioDefense segments.
