Anixa Biosciences, the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Jason McCarthy from Maxim Group maintained a Buy rating on the stock and has a $10.00 price target.
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Jason McCarthy has given his Buy rating due to a combination of factors that highlight Anixa Biosciences’ promising advancements in its oncology programs. The company’s ovarian cancer study, utilizing FSHR-targeting CER-T therapy, has shown favorable safety outcomes with no dose-limiting toxicities, even at significantly higher doses. This progress, along with the potential for further dose escalation, suggests a strong therapeutic potential for this treatment.
Additionally, Anixa’s breast cancer vaccine program is making strides, having completed patient enrollment and demonstrating positive immune responses in a majority of participants. These developments, coupled with strategic partnerships and a sustainable financial position, provide a solid foundation for future growth and success in the oncology field. The company’s low burn rate and existing cash reserves further support its ability to advance these programs through key upcoming milestones.