BioPharmX Corp Gets a Buy Rating from Maxim Group

By Carrie Williams

In a report released today, Anthony Vendetti from Maxim Group reiterated a Buy rating on BioPharmX Corp (NYSE: BPMX), with a price target of $3. The company’s shares closed yesterday at $0.52.

Vendetti said:

“Management expects to meet with the FDA in F3Q18 (Oct) to prepare for the phase 3 clinical trial, which it believes will commence in late F3Q18 or early F4Q18 (Jan). As of April 30, 2017, cash and cash equivalents were $6.7M. F1Q18 (Apr) revenue of $19,000 was above both our estimate of $8,000 and consensus of $5,000. GAAP EPS of ($0.08) was slightly wider than both our estimate and consensus of ($0.07). Non-GAAP EPS of ($0.07) was inline with both our estimate and consensus of ($0.07).”

According to TipRanks.com, Vendetti is a 5-star analyst with an average return of 16.9% and a 67.1% success rate. Vendetti covers the Healthcare sector, focusing on stocks such as Xtant Medical Holdings, Quest Diagnostics Inc, and Milestone Scientific.

Currently, the analyst consensus on BioPharmX Corp is Strong Buy and the average price target is $3, representing a 476.9% upside.

In a report issued on June 2, Roth Capital also reiterated a Buy rating on the stock with a $3 price target.

The company has a one year high of $1.22 and a one year low of $0.19. Currently, BioPharmX Corp has an average volume of 2.22M.

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BioPharmX Corp. engages in providing healthcare products through platform technologies for pharmaceutical, over-the-counter and supplement applications in dermatology. The company was founded by James R. Pekarsky on August 30, 2010 and is headquartered in Menlo Park, CA.