In a report released today, Jason McCarthy from Maxim Group maintained a Buy rating on VolitionRX (NYSE: VNRX), with a price target of $6. The company’s shares closed yesterday at $1.91.
McCarthy observed:
“VolitionRx reported 2Q18 with a net loss of ($4.6M) or ($0.15) per share. The company ended the period with $11.9M in cash on the balance sheet, excluding $9M raised in August via a private placement.”
According to TipRanks.com, McCarthy is a 5-star analyst with an average return of 11.6% and a 42.8% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, ContraVir Pharmaceuticals Inc, and Sonoma Pharmaceuticals Inc.
VolitionRX has an analyst consensus of Strong Buy, with a price target consensus of $6.
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Based on VolitionRX’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $4.65 million. In comparison, last year the company had a GAAP net loss of $3.46 million.
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VolitionRX Ltd. is a multi-national life sciences company, which engages in the development of blood-based cancer tests to help diagnose a range of cancers. Its products include the Nucleosomics platform that identifies and measures nucleosomes in the bloodstream or other bodily fluid.
