Oppenheimer analyst Leland Gershell maintained a Buy rating on Vaccinex Inc (VCNX) today and set a price target of $22. The company’s shares closed yesterday at $6.30.
Gershell observed:
“Initial interim results from pepinemab’s Phase 1b/2 CLASSICAL-Lung trial with checkpoint inhibitor in advanced NSCLC as well as first glimpses of data from investigator-sponsored trials in resectable solid tumors (colorectal, pancreatic, head and neck, melanoma) were featured on poster presentations. While early, they nonetheless continue to drive our enthusiasm for SEMA4D blockade as a strategy to meaningfully potentiate the efficacy of existing immunotherapeutic treatment approaches as well as a stand-alone intervention for cancer therapy. Tolerability appears to remain uneventful, with no new safety signals reported from several ongoing investigations. We look forward to a comprehensive update on pepinemab’s development programs in oncology at the upcoming ASCO meeting.”
According to TipRanks.com, Gershell is a 4-star analyst with an average return of 15.7% and a 56.7% success rate. Gershell covers the Healthcare sector, focusing on stocks such as Anchiano Therapeutics Ltd, Miragen Therapeutics Inc, and Avenue Therapeutics Inc.
Currently, the analyst consensus on Vaccinex Inc is a Moderate Buy with an average price target of $22.
See today’s analyst top recommended stocks >>
Based on Vaccinex Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $8.45 million. In comparison, last year the company had a GAAP net loss of $7.86 million.
Based on the recent corporate insider activity of 9 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 VCNX 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.
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.
