RenovoRx Buy Rating: Promising RenovoCath Adoption and TIGeR-PaC Study Progress Drive Positive Outlook

In a report released today, Swayampakula Ramakanth from H.C. Wainwright maintained a Buy rating on RenovoRx (RNXT – Research Report), with a price target of $3.00.

Swayampakula Ramakanth has given his Buy rating due to a combination of factors including the promising adoption of RenovoCath and the progress of the TIGeR-PaC study. RenovoRx’s recent strategic update highlighted the successful commercialization of RenovoCath, with $197K in revenue generated from over 10 medical centers not involved in the ongoing Phase 3 TIGeR-PaC study. This indicates a growing market acceptance and sets the stage for a broader commercial launch upon approval for treating locally advanced pancreatic cancer.
Additionally, the TIGeR-PaC study is progressing well, with Johns Hopkins Medicine joining as a clinical site and the company nearing its second interim analysis. The study has shown positive interim results, with an overall survival rate of 21.5 months compared to the control arm. Financially, RenovoRx reported a net loss slightly higher than expected, but with $14.6M in cash reserves, it is well-positioned to fund operations into the second quarter of 2026. The valuation, based on a risk-adjusted net present value analysis, supports a 12-month price target of $3.00 per share, reinforcing the Buy recommendation.

In another report released on May 16, Maxim Group also maintained a Buy rating on the stock with a $4.00 price target.

Based on the recent corporate insider activity of 10 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 RNXT in relation to earlier this year.