Maxim Group Thinks Hemispherx Biopharma Inc’s Stock is Going to Recover

By Ryan Adsit

Maxim Group analyst Jason McCarthy maintained a Buy rating on Hemispherx Biopharma Inc (HEBResearch Report) yesterday and set a price target of $8. The company’s shares opened today at $2.19, close to its 52-week low of $2.

McCarthy commented:

“Hemispherx Biopharma announced positive safety and survival results from its Phase 1/2 trial evaluating Ampligen use as a combination therapy in recurrent ovarian cancer. Recall that the trial, conducted by the Center (UPMC), comprised of administering Ampligen in combination with Intron A and celecoxib via intraperitoneal delivery to patients with stage 4 ovarian cancer. No safety signals were observed. Focus turns to the ongoing phase 2 study in the recurrent ovarian cancer. which is also being conducted at UPMC. This trial is evaluating Ampligen, keytruda and cisplatin combination.”

According to TipRanks.com, McCarthy is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -24.3% and a 21.1% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Hancock Jaffe Laboratories Inc, Aridis Pharmaceuticals Inc, and Achieve Life Sciences Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Hemispherx Biopharma Inc with a $17.20 average price target.

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Based on Hemispherx Biopharma Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $3.37 million. In comparison, last year the company had a GAAP net loss of $2.42 million.

Based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of HEB in relation to earlier this year.

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Hemispherx Biopharma, Inc. operates as a biopharmaceutical company, which engages in the clinical development of new drug therapies based on natural immune system enhancing technologies for the treatment of viral and immune based disorders. Its products include Alferon N Injection and Ampligen.