Celsion Corp. Reiterated With A Buy At H.C.Wainwright
H.C. Wainwright maintained coverage with a “Buy” rating on Celsion Corp. (CLSN), and a price target of $8.00 a share.
Celsion earlier announced the signing of a definitive asset purchase agreement in which it will acquire substantially all of the assets of EGEN, Inc. (EGEN), including its Phase Ib DNA-based immunotherapy product candidate EGEN-001 and its therapeutic platform technologies, TheraPlas™ for delivery of DNA and mRNA, TheraSilence™ for delivery of RNA, and RAST™ for Cell Enabled Expression and Secretion of RNA.
H.C. Wainwright analyst Reni Benjamin believes that with the pending OPTIMA Phase 3 initiation, a strategic de-risking acquisition adding multiple shots on goal, and approximately $53.8 MM in cash for clinical development, Celsion represents an undervalued player with significant upside for the long-term, risk-tolerant investor.
According to TipRanks, which measures analysts and bloggers success rate based on how their calls perform, Reni Benjamin has a one-year average return of +11.9% and a 40% success rate.