Analyst Swayampakula Ramakanth from H.C. Wainwright maintained a Buy rating on Evaxion Biotech (EVAX – Research Report) and keeping the price target at $14.00.
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Swayampakula Ramakanth has given his Buy rating due to a combination of factors including Evaxion Biotech’s promising pipeline expansion and ongoing collaborations. The company is expected to announce new infectious disease vaccines and is making strides in its oncology pipeline with precision ERV vaccines, which could attract additional partnerships and funding.
Furthermore, the extension of the EVX-01 Phase 2 trial for metastatic melanoma and the potential option exercise by Merck to in-license vaccines could provide significant financial boosts. The company’s financial position is stable, with a cash runway extending into 2027, supported by potential milestone payments. The valuation is based on a risk-adjusted net present value analysis, leading to a 12-month price target of $14, despite various risks such as partnership and regulatory challenges.