H.C. Wainwright analyst Vernon Bernardino reiterated a Buy rating on Phio Pharmaceuticals (PHIO) today and set a price target of $4.00. The company’s shares closed last Monday at $2.41, close to its 52-week low of $1.60.
According to TipRanks.com, Bernardino is a 5-star analyst with an average return of 26.4% and a 35.6% success rate. Bernardino covers the Healthcare sector, focusing on stocks such as Aridis Pharmaceuticals, Citius Pharmaceuticals, and Achieve Life Sciences.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Phio Pharmaceuticals with a $4.00 average price target.
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Based on Phio Pharmaceuticals’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $1.67 million. In comparison, last year the company had a GAAP net loss of $2.04 million.
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Phio Pharmaceuticals Corp. is a biotechnology company, which engages in the development of immuno-oncology therapeutics that address unmet medical needs. Its clinical product candidate includes RXI-109, a RNAi compound developed for the reduction of dermal scarring in planned surgeries. The company was founded on September 8, 2011 and is headquartered in Marlborough, MA.