Anixa Biosciences, 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 $7.00 price target.
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Yi Chen has given his Buy rating due to a combination of factors including recent advancements in Anixa Biosciences’ vaccine technologies. The issuance of a U.S. patent for their breast cancer vaccine platform significantly strengthens the company’s intellectual property position, extending protection into the mid-2040s. This patent covers innovative methods of immunizing patients against breast cancer, potentially offering long-lasting immune protection with minimal off-target effects.
Additionally, the completion of patient enrollment in the Phase 1 trial of the breast cancer vaccine, supported by the U.S. Department of Defense, is a positive development. Preliminary data from this trial are promising, with a substantial percentage of patients showing an immune response. Furthermore, the issuance of a patent for Anixa’s ovarian cancer vaccine technology, which is being developed in collaboration with the Cleveland Clinic and the National Cancer Institute, adds to the company’s robust pipeline and potential market impact. These factors collectively underpin the Buy rating for Anixa Biosciences.
Based on the recent corporate insider activity of 15 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 ANIX in relation to earlier this year.