In a report released today, Jason McCarthy from Maxim Group maintained a Buy rating on TrovaGene (NASDAQ: TROV), with a price target of $3. The company’s shares opened today at $0.82, close to its 52-week low of $0.65.
McCarthy said:
“Trovagene announced the development of a method for identifying AML patients most likely to respond to treatment with PLK1-inhibitor Onvansertib using a predictive biomarker approach.”
According to TipRanks.com, McCarthy is a 5-star analyst with an average return of 18.7% and a 52.5% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, ContraVir Pharmaceuticals Inc, and Sonoma Pharmaceuticals Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for TrovaGene with a $2.75 average price target, representing a 235.4% upside. In a report issued on August 30, H.C. Wainwright also reiterated a Buy rating on the stock with a $2.50 price target.
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Based on TrovaGene’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $3.75 million. In comparison, last year the company had a GAAP net loss of $8.05 million.
Based on the recent corporate insider activity of 21 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 TROV in relation to earlier this year.
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Trovagene, Inc. is a clinical-stage, precision medicine oncology therapeutics company. Its focuses on developing PCM-075, is a Polo-like Kinase 1 (PLK1) selective adenosine triphosphate (ATP) competitive inhibitor.
