H.C. Wainwright analyst Vernon Bernardino reiterated a Buy rating on GeoVax Labs (GOVX – Research Report) yesterday and set a price target of $8.00.
Vernon Bernardino has given his Buy rating due to a combination of factors related to GeoVax Labs’ ongoing clinical developments and market potential. Despite the termination of the Rapid Response Partnership Vehicle (RRPV) project, which was funding a Phase 2b clinical evaluation of their COVID-19 vaccine, GEO-CM04S1, Bernardino views this as non-material in the long term. The contract’s termination is not expected to significantly impact GeoVax’s financial projections, as the project funds were primarily meant to cover operational expenses.
GeoVax’s ongoing clinical trials, particularly the GEO-CM04S1 booster studies, remain a focal point for Bernardino. The vaccine has shown promising results in early clinical studies, demonstrating durable immune responses against current and future variants of SARS-CoV-2. It is being evaluated in multiple Phase 2 trials, including studies in high-risk populations such as cancer patients and stem cell transplant recipients. Bernardino anticipates that upcoming data releases from these trials could serve as positive catalysts for the company’s stock, reinforcing the Buy rating and the $8 price target.
According to TipRanks, Bernardino is an analyst with an average return of -5.3% and a 21.91% success rate. Bernardino covers the Healthcare sector, focusing on stocks such as Candel Therapeutics, Cassava Sciences, and Aethlon Medical.
In another report released on April 15, Noble Financial also reiterated a Buy rating on the stock with a $10.00 price target.