VolitionRX, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Yi Chen from H.C. Wainwright reiterated a Buy rating on the stock and has a $2.50 price target.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Yi Chen’s rating is based on VolitionRX’s recent advancements in their lateral flow device technology, which has shown the capability to quantify nucleosomes in whole venous blood rapidly. This development is part of their SUMMIT program aimed at early sepsis diagnosis, and the initial results from a blinded study with hospital patients have shown strong correlation with their existing Nu.Q nucleosome assay. This innovation indicates potential for quicker clinical decisions and improved patient outcomes, which is a significant step forward in point-of-care diagnostics.
Additionally, Yi Chen highlights the potential for a licensing agreement for VolitionRX’s Nu.Q Cancer platform, which could be secured in the near future. The company’s business model, which focuses on licensing revenue and consumable sales, positions them well in the market. The valuation of the company is supported by a discounted cash flow analysis, with a price target of $2.50 per share, reflecting the promising outlook of their diagnostic solutions. However, risks such as clinical development failures and market traction challenges are noted.
According to TipRanks, Chen is an analyst with an average return of -9.3% and a 36.76% success rate. Chen covers the Healthcare sector, focusing on stocks such as Lipocine, VolitionRX, and Zynex.