Rexahn Pharma Receives a Buy from FBR CapitalBy Jason Carr
FBR Capital analyst Vernon Bernardino reiterated a Buy rating on Rexahn Pharma (NYSE MKT: RNN) yesterday and set a price target of $3. The company’s shares opened today at $0.16, close to its 52-week low of $0.14.
“On November 7, RNN discussed updates of its clinical-stage drug candidates and reported its 3Q16 results in a company press release. After presenting an early dataset of its lead assets at the European Society of Medical Oncology (ESMO) annual congress, we look for RNN to report updated data from several ongoing Phase I/II trials of Archexin, RX-3117, and Supinoxin in 4Q16 through early 2017. These product candidates have recently shown encouraging signs of safety and efficacy in small patient populations so far. Thus, we expect completion of ongoing clinical trials to be positive and support advancement into larger, proof-of-concept (POC) studies that validate their potential in various tumor types. We look for the presentation of new interim data to be near-term catalysts and show RNN shares are currently undervalued given the market potential of its product candidates.”
According to TipRanks.com, Bernardino is ranked 0 out of 5 stars with an average return of -25.4% and a 20.6% success rate. Bernardino covers the Healthcare sector, focusing on stocks such as ImmunoCellular Therapeutics, Actinium Pharmaceuticals, and Conatus Pharmaceuticals.
Rexahn Pharma has an analyst consensus of Moderate Buy.
The company has a one year high of $0.49 and a one year low of $0.14. Currently, Rexahn Pharma has an average volume of 1.01M.
Rexahn Pharmaceuticals, Inc. is a clinical stage biopharmaceutical company. It dedicates to the discovery, development and commercialization of innovative treatments for cancer and other medical needs. The company currently has three clinical stage oncology candidates, Archexin, RX-3117, and Supinoxin and a robust pipeline of preclinical compounds to treat multiple types of cancer. It has also developed proprietary drug discovery platform technologies in the areas of nano-medicines, 3D gold and times. The company was founded by Chang Ho Ahn on March 19, 2001 and is headquartered in Rockville, MD.