Maxim Group Thinks SELLAS Life Sciences Group Inc’s Stock is Going to Recover

By Ryan Adsit

In a report released today, Jason McCarthy from Maxim Group maintained a Buy rating on SELLAS Life Sciences Group Inc (NASDAQ: SLS), with a price target of $13. The company’s shares opened today at $5.66, close to its 52-week low of $3.43.

McCarthy said:

“Sellas reported YE-2017 with a net loss of $24M which included $5.7M in transaction costs and $1.9M in severance costs, both related to the merger with Galena. The company ended the period with $2.3M in cash, excluding $10.7M raised in March ($4.7M “tranche 2″ expected end of April). We estimate Sellas should have $10M in cash by the end of April.”

According to TipRanks.com, McCarthy is a 3-star analyst with an average return of 2.6% and a 40.4% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as ContraVir Pharmaceuticals Inc, Actinium Pharmaceuticals, and Soleno Therapeutics Inc.

Currently, the analyst consensus on SELLAS Life Sciences Group Inc is Moderate Buy and the average price target is $12, representing an 112.0% upside.

In a report issued on April 2, H.C. Wainwright also reiterated a Buy rating on the stock with a $11 price target.

The company has a one-year high of $19.80 and a one-year low of $3.43. Currently, SELLAS Life Sciences Group Inc has an average volume of 542.6K.

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