RenovoRx, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Swayampakula Ramakanth from H.C. Wainwright reiterated a Buy rating on the stock and has a $3.00 price target.
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Swayampakula Ramakanth has given his Buy rating due to a combination of factors including the strategic expansion of RenovoRx’s commercial team, which is expected to drive sales growth in the coming years. The company has already made significant progress by hiring key personnel such as a Senior Director of Sales and regional sales managers, with plans to further enhance their team by adding a marketing director. This expansion is anticipated to increase physician engagement and awareness, thereby boosting the adoption of RenovoCath in more medical centers.
Additionally, the ongoing Phase 3 TIGeR-PAC study for locally advanced pancreatic cancer shows promising interim results, with a final analysis expected in 2027. The study’s encouraging survival data supports the potential for future success. Financially, RenovoRx has a stable cash position projected to sustain operations into mid-2026, and the valuation model suggests a favorable risk-adjusted net present value. Despite risks such as competition and regulatory challenges, the overall outlook justifies the Buy rating with a 12-month price target of $3.00 per share.
According to TipRanks, Ramakanth is a 5-star analyst with an average return of 17.9% and a 43.00% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Corcept Therapeutics, Evaxion Biotech, and EDAP TMS.
In another report released on November 14, Maxim Group also maintained a Buy rating on the stock with a $4.00 price target.