H.C. Wainwright analyst Swayampakula Ramakanth maintained a Buy rating on RenovoRx (RNXT – Research Report) today and set a price target of $3.00.
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Swayampakula Ramakanth has given his Buy rating due to a combination of factors related to RenovoRx’s strategic developments and financial outlook. The company is progressing well with its Phase 3 TIGeR-PaC study, which evaluates the RenovoCath delivery system for treating pancreatic cancer. The study has shown promising interim results with improved overall survival rates compared to standard treatments, and the company anticipates further analyses in 2025.
RenovoRx has also begun generating revenue, with more than 10 medical institutions onboarded by the end of 2024, and management expects revenue growth in 2025. Financially, the company reported better-than-expected results for 4Q24 and has secured additional funding, providing sufficient cash to support operations into the second half of 2026. The Buy rating is supported by a risk-adjusted net present value analysis, leading to a 12-month price target of $3.00 per share.