Roth Capital Thinks BioPharmX Corp’s Stock is Going to Recover

By Ryan Adsit

Roth Capital analyst Scott Henry maintained a Buy rating on BioPharmX Corp (NYSE: BPMX) yesterday and set a price target of $2.10. The company’s shares opened today at $0.28, close to its 52-week low of $0.19.

According to TipRanks.com, Henry is a 1-star analyst with an average return of -1.3% and a 42.7% success rate. Henry covers the Healthcare sector, focusing on stocks such as Acerus Pharmaceuticals Corporation, Synergy Pharmaceuticals Inc, and Avadel Pharmaceuticals plc.

Currently, the analyst consensus on BioPharmX Corp is Strong Buy and the average price target is $2.20, representing a 700.0% upside.

In a report issued on September 13, H.C. Wainwright also reiterated a Buy rating on the stock with a $3 price target.

Based on BioPharmX Corp’s latest earnings report for the quarter ending July 31, the company posted quarterly revenue of $17K and GAAP net loss of $3.74 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.