HC Wainwright Reiterates $17.00 Price Target for Rexahn Pharmaceuticals (RNN)

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Rexahn Pharmaceuticals (NYSEAMERICAN:RNN) has been assigned a $17.00 target price by equities researchers at HC Wainwright in a research note issued to investors on Thursday. The brokerage presently has a “buy” rating on the stock.

The analysts wrote, “Valuation and risks to price target achievement. We reiterate our Buy rating but are lowering our price target to $17 from $19.50. The factors impacting our valuation include: (1) change to base year; (2) adjustment to fully diluted share count of of October 2018 equity raise; and (3) increasing our chance of success for RX-3117 in first-line pancreatic cancer from 20% to 25%. Our target is based on our clinical net present value (NPV) model, which is currently driven by the company’s two lead assets, RX-3117, and RX-5902 (Supinoxin).””

RNN has been the subject of a number of other reports. Zacks Investment Research downgraded shares of Rexahn Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 16th. B. Riley set a $8.00 price objective on shares of Rexahn Pharmaceuticals and gave the stock a “buy” rating in a research note on Monday, August 13th. Ifs Securities upgraded shares of Rexahn Pharmaceuticals from an “outperform” rating to a “strong-buy” rating in a research note on Thursday, October 4th. Finally, Brookline Cap M restated a “buy” rating on shares of Rexahn Pharmaceuticals in a research note on Tuesday, November 27th. Three investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $8.75.

NYSEAMERICAN RNN traded up $0.01 on Thursday, reaching $1.10. The company had a trading volume of 200 shares, compared to its average volume of 260,127. Rexahn Pharmaceuticals has a 1-year low of $1.03 and a 1-year high of $2.70.

Rexahn Pharmaceuticals (NYSEAMERICAN:RNN) last announced its earnings results on Monday, November 5th. The company reported ($0.17) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.17).

Rexahn Pharmaceuticals Company Profile

Rexahn Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, discovers, develops, and commercializes treatments for cancer. The company's clinical stage drug candidates include RX-3117, which is in Phase II a clinical trial for the treatment of patients with relapsed or refractory pancreatic cancer and advanced bladder cancer; and Supinoxin that is in Phase II a clinical study to treat patients with metastatic triple negative breast cancer.

Further Reading: Earnings Per Share (EPS) Explained

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