H.C. Wainwright analyst Swayampakula Ramakanth reiterated a Hold rating on Vascular Biogenics (NASDAQ: VBLT) today and set a price target of $3. The company’s shares closed on Friday at $1.65, close to its 52-week low of $1.58.
According to TipRanks.com, Ramakanth is a 4-star analyst with an average return of 7.2% and a 40.6% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Diffusion Pharmaceuticals Inc, IntelGenx Technologies, and Leap Therapeutics Inc.
Currently, the analyst consensus on Vascular Biogenics is a Hold with an average price target of $3, representing an 81.8% upside. In a report issued on August 16, Chardan Capital also maintained a Hold rating on the stock with a $3 price target.
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Based on Vascular Biogenics’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $7.18 million. In comparison, last year the company had a GAAP net loss of $4.87 million.
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Vascular Biogenics Ltd. is in the clinical-stage biopharmaceutical company, which engages in the discovery, development and commercialization of first-in-class treatments for cancer. It offers different programs for cancer and inflammatory disease patients such as vascular targeting system and Lecinoxoids.
