In a report issued on August 13, Jason McCarthy from Maxim Group maintained a Buy rating on VolitionRX (VNRX), with a price target of $6. The company’s shares closed last Monday at $4.02.
McCarthy wrote:
“VolitionRx reported 2Q19 with a net loss of ($4.2M) and a cash balance of $18.5M, not including an additional $4.8M raised through warrant exercises.”
According to TipRanks.com, McCarthy is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -24.1% and a 21.1% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Lineage Cell Therapeutics, Inc., Hancock Jaffe Laboratories Inc, and Aridis Pharmaceuticals Inc.
Currently, the analyst consensus on VolitionRX is a Moderate Buy with an average price target of $6, a 52.7% upside from current levels. In a report released yesterday, Oppenheimer also maintained a Buy rating on the stock with a $6 price target.
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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 $4.2 million. In comparison, last year the company had a GAAP net loss of $4.59 million.
Based on the recent corporate insider activity of 6 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 VNRX in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
VolitionRX Ltd. is a multi-national life sciences company. It 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. The company was founded on August 5, 2010 and is headquartered in Singapore.
