Genocea Biosciences (GNCA) Receives a Buy from H.C. Wainwright

H.C. Wainwright analyst Joseph Pantginis reiterated a Buy rating on Genocea Biosciences (GNCAResearch Report) today and set a price target of $5.75. The company’s shares opened today at $0.73.

Pantginis wrote:

“We believe, with these initial results, the company has begun to demonstrate the validity of its overall approach in patients and we are excited to follow the upcoming data updates at ASCO and the performance of GEN-009 moving forward. With positive data the company is planning to proceed with Parts B and C which are expected to be run in parallel and, as discussed below, could begin as early as mid-2019 with data expected in mid-2020. We believe that Parts B and C of the study may effectively target a high unmet medical need represented by therapy resistant tumors. Additional data on Part A could be presented at other prominent conferences (we think, possibly ESMO in September 2019).”

According to TipRanks.com, Pantginis is a 1-star analyst with an average return of -1.3% and a 35.8% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Iovance Biotherapeutics Inc, and Checkpoint Therapeutics Inc.

Genocea Biosciences has an analyst consensus of Moderate Buy, with a price target consensus of $3.88.

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The company has a one-year high of $1.02 and a one-year low of $0.28. Currently, Genocea Biosciences has an average volume of 486.3K.

Based on the recent corporate insider activity of 17 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 GNCA in relation to earlier this year.

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Genocea Biosciences, Inc. engages in the development and commercialization of cancer vaccines. It uses its proprietary technology platform ATLAS, to identify clinically relevant antigens of T cells based on actual human immune responses.

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