In a report released today, Andrew Fein from H.C. Wainwright maintained a Buy rating on Cyclacel Pharmaceuticals (NASDAQ: CYCC), with a price target of $7. The company’s shares closed yesterday at $1.56.
“Our current price target of $7/share ($5 from non-AML clinical pipeline + $2 in cash) is based on a discounted cash flow analysis using a 12% discount rate and 2% growth rate, in line with the expected discount and growth parameters of a development stage oncology company. Risks to our investment thesis and target price include: (1) failure in clinical studies; (2) failure to secure regulatory approval; and (3) a smaller than anticipated commercial opportunity due to market size, competition, and pricing.”
According to TipRanks.com, Fein is a 3-star analyst with an average return of 2.6% and a 46.4% success rate. Fein covers the Healthcare sector, focusing on stocks such as Proteostasis Therapeutics Inc, ACADIA Pharmaceuticals Inc, and Strongbridge Biopharma Plc.
Cyclacel Pharmaceuticals has an analyst consensus of Moderate Buy, with a price target consensus of $7.
Based on Cyclacel Pharmaceuticals’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $1.35 million. In comparison, last year the company had a GAAP net loss of $2.19 million.
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Cyclacel Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company. It uses cell cycle, transcriptional regulation and DNA damage response biology to develop innovative, targeted medicines for cancer and other proliferative diseases.