In a report released yesterday, Leland Gershell from Oppenheimer assigned a Buy rating to Vaccinex (VCNX), with a price target of $7.00. The company’s shares closed last Friday at $1.99, close to its 52-week low of $1.63.
According to TipRanks.com, Gershell is a 2-star analyst with an average return of 1.0% and a 39.6% success rate. Gershell covers the Healthcare sector, focusing on stocks such as BioMarin Pharmaceutical, Corbus Pharmaceuticals, and Anchiano Therapeutics.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Vaccinex with a $7.00 average price target.
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Based on Vaccinex’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $6.5 million. In comparison, last year the company earned revenue of $25K and had a GAAP net loss of $8.83 million.
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Vaccinex, Inc. is a clinical-stage biotechnology company, which engages in the development of targeted biotherapeutics to treat serious diseases and conditions with unmet medical needs, including cancer, neurodegenerative diseases, and autoimmune disorders. Te firm focuses in the development of pepinemab for the treatment of non-small cell lung cancer, or NSCLC, osteosarcoma, melanoma and Huntington’s disease. Its products pipeline include SEMA4D antibody platform and ActivMAb antibody discovery platform. The company was founded by Maurice Zauderer and Deepak Sahasrabudhe in 1997 and is headquartered in Rochester, NY.
