Analyst Jason McCarthy of Maxim Group maintained a Buy rating on RenovoRx, retaining the price target of $4.00.
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Jason McCarthy has given his Buy rating due to a combination of factors including RenovoRx’s innovative approach in cancer treatment and the promising progress of their pivotal Phase 3 TIGeR-PaC study. The study, which focuses on locally advanced pancreatic cancer, is progressing well with enrollment expected to complete in early 2026. The RenovoTAMP platform, which allows targeted delivery of chemotherapy directly to tumors, is a significant innovation that could potentially improve treatment outcomes.
Moreover, the financial outlook for RenovoRx is stable, with the company reporting a net loss but maintaining sufficient cash reserves to support operations into 2026. The revenue from RenovoCath, although modest, is expected to grow and help offset the company’s cash burn. The anticipated final data from the ongoing study, if positive, could serve as a major catalyst for the company’s stock, supporting Jason McCarthy’s optimistic outlook and Buy rating.
In another report released yesterday, Alliance Global Partners also reiterated a Buy rating on the stock with a $3.00 price target.
Based on the recent corporate insider activity of 13 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.