Analyst Swayampakula Ramakanth of H.C. Wainwright maintained a Buy rating on Evaxion Biotech, retaining the price target of $16.00.
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Swayampakula Ramakanth has given his Buy rating due to a combination of factors that highlight Evaxion Biotech’s innovative approach and potential for growth. The company’s AI-Immunology platform, which is used to discover novel endogenous retrovirus (ERV) tumor antigens, represents a cutting-edge method in the field of cancer treatment. This platform has successfully identified promising drug candidates like EVX-04, an off-the-shelf cancer vaccine targeting acute myeloid leukemia (AML), which has shown positive preclinical results in preventing tumor growth.
Moreover, Evaxion’s strategic plans to advance EVX-04 into clinical trials, including a Phase 1 study as a combination therapy for AML, underscore the potential for significant developments in the near future. The company’s focus on securing business development agreements and partnerships further strengthens its position in the competitive AI-based drug discovery landscape. The valuation, supported by a risk-adjusted net present value analysis, reflects confidence in Evaxion’s future revenue streams and strategic initiatives, justifying the Buy rating with a price target of $16 per share.
In another report released on December 8, Lake Street also maintained a Buy rating on the stock with a $11.00 price target.