H.C. Wainwright analyst Yi Chen reiterated a Buy rating on Anixa Biosciences (ANIX – Research Report) today and set a price target of $7.00.
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Yi Chen has given his Buy rating due to a combination of factors related to Anixa Biosciences’ promising developments in their cancer treatment trials. The company’s CAR-T therapy for ovarian cancer has progressed to the fourth cohort in its Phase 1 trial, with no dose-limiting toxicities observed in the third cohort. This advancement suggests potential efficacy and safety at higher doses, which could lead to improved patient outcomes. The trial’s expansion to include additional patient groups and the possibility of administering a second dose further supports the therapy’s potential.
Additionally, Anixa’s breast cancer vaccine trial has completed enrollment, with promising preliminary data showing a significant percentage of patients responding positively. The involvement of reputable partners like the Moffitt Cancer Center and Cleveland Clinic, along with funding from the U.S. Department of Defense, adds credibility to Anixa’s research efforts. These factors collectively contribute to the positive outlook for Anixa Biosciences, justifying the Buy rating and the $7 price target.
Based on the recent corporate insider activity of 12 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ANIX in relation to earlier this year.