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

Maxim Group analyst Jason McCarthy initiated coverage with a Buy rating on Hemispherx Biopharma (HEBResearch Report) yesterday and set a price target of $8. The company’s shares closed yesterday at $5.08, close to its 52-week low of $4.01.

McCarthy commented:

“We are initiating coverage of Buy rating and a $8 price target. The company’s lead asset is Ampligen, a unique TLR3 agonist that reprograms the tumor microenvironment (TME) to become more responsive to other therapies, including checkpoints.”

According to TipRanks.com, McCarthy is ranked 0 out of 5 stars with an average return of -20.6% and a 21.9% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Teva Pharmaceutical Industries Limited, SELLAS Life Sciences Group Inc, and ContraVir Pharmaceuticals Inc.

Currently, the analyst consensus on Hemispherx Biopharma is a Moderate Buy with an average price target of $4.30.

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Based on Hemispherx Biopharma’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 $2.71 million.

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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.