Cantor Fitzgerald Thinks Advaxis’ Stock is Going to Recover

By Ryan Adsit

Cantor Fitzgerald analyst Mara Goldstein maintained a Buy rating on Advaxis (NASDAQ: ADXS) today and set a price target of $19. The company’s shares opened today at $3, close to its 52-week low of $2.71.

Goldstein noted:

“Closing out 2017 with Strategic Priorities. In C3Q17, ADXS announced a pipeline prioritization designed to streamline development efforts to larger indications and stretch cash, which currently stands at $70 million at the end of FY17, which is expected to last into FY19. Additionally, the company expects to name a new CEO to replace interim CEO Anthony Lombardo and add a CMO in the coming year.”

According to TipRanks.com, Goldstein is ranked 0 out of 5 stars with an average return of -5.4% and a 35.9% success rate. Goldstein covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Corvus Pharmaceuticals Inc, and Karyopharm Therapeutics.

Advaxis has an analyst consensus of Moderate Buy, with a price target consensus of $21.

Based on Advaxis’ latest earnings report for the quarter ending July 31, the company posted quarterly revenue of $3.05 million and GAAP net loss of $32.63 million. In comparison, last year the company earned revenue of $3.74 million and had a GAAP net loss of $21.7 million.

Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is negative on the stock.

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Advaxis, Inc. is a biotechnology company, which engages in the discovery, development, and commercialization of cancer immunotherapies. It manages platform technology that utilizes live attenuated Listeria monocytogenes bioengineered to secrete antigen or adjuvant fusion proteins.