Maxim Group analyst Jason McCarthy initiated coverage with a Buy rating on Navidea (NAVB) yesterday and set a price target of $2. The company’s shares closed yesterday at $0.68.
McCarthy commented:
“We are initiating coverage of Buy rating and $2 price target. Navidea is developing an immunodiagnostic platform called Tc99m-tilmanocept (Tc-Til) in rheumatoid arthritis (RA), cardiovascular disease (CVD), Kaposi’s sarcoma, and NASH, and other solid tumors.”
According to TipRanks.com, McCarthy is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -18.8% and a 24.9% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Teva Pharmaceutical Industries Limited, Aridis Pharmaceuticals Inc, and Achieve Life Sciences Inc.
The the analyst consensus on Navidea is currently a Hold rating.
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Based on Navidea’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $2.43 million. In comparison, last year the company had a GAAP net loss of $2.44 million.
Based on the recent corporate insider activity of 13 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 NAVB in relation to earlier this year.
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Navidea Biopharmaceuticals, Inc. engages in the development and commercialization of precision immunodiagnostic agents and immunotherapeutics. It operates through the following segments: Diagnostics, Therapeutics, and Corporate. The company was founded in 1983 and is headquartered in Dublin, OH.
