H.C. Wainwright Reaffirms Their Buy Rating on BioPharmX Corp

By Jason Carr

In a report released today, Swayampakula Ramakanth from H.C. Wainwright reiterated a Buy rating on BioPharmX Corp (NYSE: BPMX), with a price target of $3. The company’s shares closed yesterday at $0.34.

According to TipRanks.com, Ramakanth is ranked 0 out of 5 stars with an average return of -4.8% and a 34.8% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as X T L Biopharmaceuticals Ltd (ADR), Strata Skin Sciences Inc, and Spectrum Pharmaceuticals.

BioPharmX Corp has an analyst consensus of Strong Buy, with a price target consensus of $3.

Based on BioPharmX Corp’s latest earnings report for the quarter ending April 30, the company posted quarterly revenue of $19K and GAAP net loss of $5.4 million. In comparison, last year the company earned revenue of $19K and had a GAAP net loss of $5.03 million.

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BioPharmX Corp. engages in providing healthcare products through platform technologies for pharmaceutical, over-the-counter and supplement applications in dermatology. Its platforms include Topical Gel, Injectable, and Encapsulation. The company was founded by James R. Pekarsky and Anja B. Krammer on August 30, 2010 and is headquartered in Menlo Park, CA.