Maxim Group Keeps a Buy Rating on Soligenix (SNGX)

By Austin Angelo

Maxim Group analyst Jason McCarthy maintained a Buy rating on Soligenix (NASDAQ: SNGX) today and set a price target of $4. The company’s shares opened today at $1.57.

McCarthy observed:

“Soligenix announced that lead clinical candidate SGX942 (dusquetide) for oral mucositis (OM) in head and neck cancer (HNC) was selected by the NIH as a Small Business Innovation Research/Small Business Technology Transfer (SBIR/STTR) Commercialization Accelerator Program (CAP) Phase II awardee for 2018-2019.”

According to TipRanks.com, McCarthy is a 5-star analyst with an average return of 14.9% and a 48.7% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, ContraVir Pharmaceuticals Inc, and Sonoma Pharmaceuticals Inc.

Soligenix has an analyst consensus of Moderate Buy, with a price target consensus of $4.

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The company has a one-year high of $3.70 and a one-year low of $0.91. Currently, Soligenix has an average volume of 265.2K.

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Soligenix, Inc. engages in the development and commercialization of products to treat rare disease. It operates through the BioTherapeutics, and Vaccines/BioDefense segments.