H.C. Wainwright Sticks to Their Buy Rating for OncoSec Medical

By Austin Angelo

H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on OncoSec Medical (NASDAQ: ONCS) today and set a price target of $6. The company’s shares closed yesterday at $1.13.

Selvaraju commented:

“We believe preliminary interim data—based on the first 16-20 patients—could be reported in late 2017 or early 2018. Management have indicated that an ORR of at least 30% would be considered a success for the PISCES study. We note that positive results from the interim analysis may allow the company to apply for Breakthrough Therapy designation in patients who have failed anti- PD-1 monotherapies. In addition, OncoSec may report 24-month follow- up data from the Phase 2 investigator-sponsored trial later this year. In the wake of this update, we reiterate our Buy rating and $6 price target. 43% ORR in Phase 2 combo trial. A prior investigator-sponsored Phase 2 combo study of ImmunoPulse IL-12 and Keytruda in 22 metastatic melanoma patients reported positive data. These patients were predicted to have low likelihoods of response to anti-PD-1 monotherapies based on biomarker assays. The results showed a 43% (9/21) ORR at 24 weeks by Response Evaluation Criteria in Solid Tumors (RECIST) v1.1. There were 24% (5/21) complete responders and 19% (4/22) partial responders. Of note, nine out of the 22 patients enrolled had prior checkpoint inhibitor therapy; ORR for this subset of patients was 33% (3/9). The data showed that intra-tumoral electroporation of interleukin-12 DNA, combined with pembrolizumab, can effectively alter the tumor microenvironment and increase tumor- specific CD8+ T-cells, which drive a systemic anti-tumor immune response. The combo therapy had an acceptable safety profile and was well tolerated.”

According to TipRanks.com, Selvaraju is ranked 0 out of 5 stars with an average return of -8.3% and a 34.0% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as RegeneRx Biopharmaceuticals Inc, Biospecifics Technologies Corp, and Stemline 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 19, Maxim Group also reiterated a Buy rating on the stock with a $5 price target.

The company has a one year high of $2.08 and a one year low of $0.88. Currently, OncoSec Medical has an average volume of 218.2K.

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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.