Maxim Group Assigns a Buy Rating on Navidea (NAVB)

By Carrie Williams

Maxim Group analyst Jason McCarthy assigned a Buy rating to Navidea (NAVBResearch Report) today and set a price target of $4.00. The company’s shares closed last Friday at $2.43.

According to TipRanks.com, McCarthy is a 5-star analyst with an average return of 11.0% and a 45.1% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Brainstorm Cell Therapeutics, Interpace Diagnostics Group, and SELLAS Life Sciences Group.

Currently, the analyst consensus on Navidea is a Moderate Buy with an average price target of $5.00, implying a 60.3% upside from current levels. In a report issued on May 15, H.C. Wainwright also reiterated a Buy rating on the stock with a $4.00 price target.

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Based on Navidea’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $156.3K and GAAP net loss of $2.67 million. In comparison, last year the company earned revenue of $41.62K and had a GAAP net loss of $2.43 million.

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Navidea Biopharmaceuticals, Inc. engages in the development and commercialization of precision immunodiagnostic agents and immunotherapeutics. It operates through the following segments: Diagnostics, Therapeutics, and Corporate. The company was founded in 1983 and is headquartered in Dublin, OH.