H.C. Wainwright Thinks Rexahn Pharma’s Stock is Going to Recover

In a report released today, Joseph Pantginis from H.C. Wainwright reiterated a Buy rating on Rexahn Pharma (RNNResearch Report), with a price target of $23. The company’s shares opened today at $6.39, close to its 52-week low of $4.75.

Pantginis noted:

“Valuation and risks to price target achievement. We reiterate our Buy rating and are adjusting our price target to $23 from $10 post-reverse split as well as including other factors described here.”

According to TipRanks.com, Pantginis ‘ ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -2.4% and a 34.3% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Iovance Biotherapeutics Inc, and Checkpoint Therapeutics Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Rexahn Pharma with a $13.50 average price target.

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Based on Rexahn Pharma’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $3.12 million. In comparison, last year the company had a GAAP net loss of $2.07 million.

Based on the recent corporate insider activity of 6 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 RNN in relation to earlier this year.

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Rexahn Pharmaceuticals, Inc. is a clinical stage biopharmaceutical company, which engages in the research and development of oncology therapeutics. Its drug candidates include the following: RX-31171 for pancreatic, bladder, colon, and lung cancer; and RX-5902 for metastatic triple negative breast cancer.