Vascular Biogenics (VBLT) Receives a Buy from H.C. Wainwright

In a report released today, Swayampakula Ramakanth from H.C. Wainwright reiterated a Buy rating on Vascular Biogenics (VBLTResearch Report), with a price target of $3. The company’s shares closed last Monday at $1.25.

According to TipRanks.com, Ramakanth ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -11.7% and a 27.4% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Zomedica Pharmaceuticals Corp, IntelGenx Technologies, and Gritstone Oncology Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Vascular Biogenics with a $2.94 average price target.

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Based on Vascular Biogenics’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $4.18 million. In comparison, last year the company had a GAAP net loss of $4.05 million.

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Vascular Biogenics Ltd. is in the clinical-stage biopharmaceutical company, which engages in the discovery, development and commercialization of first-in-class treatments for cancer. It offers different programs for cancer and inflammatory disease patients such as vascular targeting system and Lecinoxoids.