H.C. Wainwright analyst Swayampakula Ramakanth maintained a Buy rating on Evaxion Biotech today and set a price target of $16.00.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Swayampakula Ramakanth’s rating is based on the promising data from Evaxion Biotech’s ongoing Phase 2 study of EVX-01, which is being tested in combination with pembrolizumab for the treatment of unresectable/metastatic melanoma. The two-year follow-up data demonstrated an improved overall response rate (ORR) of 75%, up from 69% in the previous year, showcasing the therapy’s efficacy and safety. The durability of the response was notable, with 92% of responders maintaining their response at the 24-month mark, which is unprecedented in the field of neoantigen cancer vaccines.
Additionally, the PIONEER AI model, which identifies clinically relevant neoantigen targets, showed an improved prediction accuracy of 81%, surpassing the typical immunogenicity rates of competitor vaccines. Despite a negative market reaction, possibly due to unmet investor expectations, the analyst sees the current stock weakness as a buying opportunity. The extension of the trial to include EVX-01 as a monotherapy and the potential for future partnerships further support the Buy rating, as these factors indicate a strong future potential for Evaxion’s platform and products.