RenovoRx, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Swayampakula Ramakanth from H.C. Wainwright maintained a Buy rating on the stock and has a $3.00 price target.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Swayampakula Ramakanth has given his Buy rating due to a combination of factors including the anticipated momentum in RenovoRx’s product launch and the strategic expansion of their commercial team. The RenovoCath product has shown promising initial sales figures, with a notable increase from the first to the second quarter of 2025. The company has managed to achieve this without a dedicated sales and marketing team, and plans to bolster this area by hiring a senior executive and additional sales representatives by the end of 2025.
Moreover, the ongoing Phase 3 TIGeR-PAC study is progressing well, with positive interim results indicating a favorable safety profile and improved overall survival rates compared to the control arm. This study not only provides initial experience with the drug-device combination but also sets the stage for future commercial sales. Financially, RenovoRx has reported better-than-expected results for the second quarter of 2025, and with sufficient cash reserves, they are well-positioned to fund operations into the first half of 2026. These factors collectively support Ramakanth’s optimistic outlook and Buy rating for RenovoRx’s stock.
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 RNXT in relation to earlier this year.