Oppenheimer Thinks Vaccinex Inc’s Stock is Going to Recover

Oppenheimer analyst Leland Gershell reiterated a Buy rating on Vaccinex Inc (VCNXResearch Report) today and set a price target of $22. The company’s shares opened today at $3.93, close to its 52-week low of $3.32.

Gershell wrote:

“Vaccinex posted a 4Q18 net loss of $8.4M vs our $6.5ME. Next quarter, we will see an initial reveal from the CLASSICAL-Lung trial of pepinemab added to I-O therapy for NSCLC. Potentially pivotal SIGNAL trial in late prodromal/early manifest Huntington’s disease completed enrollment (N=265) in January, with top- line data expected in 2H20. Investigator-sponsored Phase 1 studies in advanced melanoma (with checkpoint inhibitors) and osteosarcoma continue to progress. Underpinned by a growing body of compelling science around SEMA4D and its key immune/inflammatory role in several disease settings, pepinemab holds considerable therapeutic promise, we believe. We reiterate our Outperform rating and $22 price target.”

According to TipRanks.com, Gershell is a 1-star analyst with an average return of -3.3% and a 35.6% success rate. Gershell covers the Healthcare sector, focusing on stocks such as Anchiano Therapeutics Ltd, Avenue Therapeutics Inc, and Evofem Biosciences Inc.

Currently, the analyst consensus on Vaccinex Inc is a Moderate Buy with an average price target of $22.

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The company has a one-year high of $12 and a one-year low of $3.32. Currently, Vaccinex Inc has an average volume of 5,437.

Based on the recent corporate insider activity of 7 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 VCNX in relation to earlier this year.

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Vaccinex, Inc. is a clinical-stage biotechnology company, which engages in the development of targeted biotherapeutics to treat serious diseases and conditions with unmet medical needs, including cancer, neurodegenerative diseases, and autoimmune disorders.