Analyst Swayampakula Ramakanth of H.C. Wainwright maintained a Buy rating on Evaxion Biotech (EVAX – Research Report), retaining the price target of $14.00.
Swayampakula Ramakanth has given his Buy rating due to a combination of factors that highlight Evaxion Biotech’s promising growth prospects. The company has strengthened its partnership with Merck, focusing on two infectious disease vaccine candidates, EVX-B2 and EVX-B3. This collaboration is expected to lead to Merck exercising its option to in-license these assets, providing Evaxion with a significant upfront payment. This non-dilutive funding could extend Evaxion’s cash runway into 2027, offering strong validation for their AI-Immunology platform.
Furthermore, Evaxion’s diverse AI platform presents broad opportunities, particularly in cancer treatment. Their peptide-based neoantigen cancer vaccine, EVX-01, has shown promising synergy with pembrolizumab in a Phase 2 study. Upcoming data releases are anticipated to further support EVX-01’s potential, and the company is poised to leverage its experience in other tumor indications. Additionally, the nomination of a lead endogenous retrovirus vaccine from their ObsERV AI model could open new avenues, especially in tumors with low mutation burden. These strategic developments, coupled with a solid financial position, underpin the Buy rating.
According to TipRanks, Ramakanth is an analyst with an average return of -2.0% and a 29.74% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Eton Pharmaceuticals, AbSci, and Vericel.