Maxim Group Remains a Buy on OncoSec Medical

By Jason Carr

Maxim Group analyst Jason McCarthy reiterated a Buy rating on OncoSec Medical (NASDAQ: ONCS) today and set a price target of $5. The company’s shares closed yesterday at $1.13.

McCarthy said:

“Oncosec reported the April quarter (FYE July) with a net loss of $4.6M and ended the period with $16M in cash.”

According to TipRanks.com, McCarthy is ranked 0 out of 5 stars with an average return of -13.8% and a 33.2% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as ImmunoCellular Therapeutics, Mateon Therapeutics Inc, and Soleno Therapeutics Inc.

Currently, the analyst consensus on OncoSec Medical is Strong Buy and the average price target is $5.50, representing a 386.7% upside.

In a report issued on May 22, H.C. Wainwright also reiterated a Buy rating on the stock with a $6 price target.

Based on OncoSec Medical’s latest earnings report for the quarter ending January 31, the company posted quarterly revenue of $0 and GAAP net loss of $5.39 million. In comparison, last year the company earned revenue of $0 and had a GAAP net loss of $6.25 million.

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OncoSec Medical, Inc. engages in designing, developing and commercializing medical products for the treatment of cancer. It engages in the discovery and development of novel immunotherapeutic products to improve treatment options for patients and physicians, which intends to treat oncology indications. The company was founded by Avtar S. Dhillon and Punit S. Dhillon on February 8, 2008 and is headquartered in San Diego, CA.