Maxim Group Sticks to Its Buy Rating for Soligenix

By Carrie Williams

In a report released today, Jason Kolbert from Maxim Group reiterated a Buy rating on Soligenix (NASDAQ: SNGX), with a price target of $4. The company’s shares opened today at $2.15.

Kolbert noted:

“Soligenix announced long-term follow-up data from the P2 study of SGX942 in oral mucositis (in head and neck cancer) has been published in the journal “Biotechnology Reports” (PUBLICATION LINK).”

According to TipRanks.com, Kolbert is ranked 0 out of 5 stars with an average return of -13.9% and a 29.5% success rate. Kolbert covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, Arbutus Biopharma Corporation, and ContraVir Pharmaceuticals Inc.

Soligenix has an analyst consensus of Moderate Buy, with a price target consensus of $4.

The company has a one year high of $6.27 and a one year low of $0.56. Currently, Soligenix has an average volume of 616.6K.

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Soligenix, Inc. is a clinical stage biopharmaceutical company, which engages in developing products to treat serious gastrointestinal diseases. It operates through the BioTherapeutics and Vaccines or BioDefense segments. The BioTherapeutics segment involves in the development of photodynamic therapy (SGX301) utilizing topical synthetic hypericin activated with safe visible light for the treatment of cutaneous T-cell lymphoma. The Vaccines or BioDefense segment includes active development programs for RiVax, ricin toxin vaccine candidate, OrbeShield, GI acute radiation syndrome therapeutic candidate, and SGX943, melioidosis therapeutic candidate. The company was founded in 1987 and is headquartered Princeton, NJ.