Zacks Investment Research Upgrades Vical (NASDAQ:VICL) to “Buy”

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Vical (NASDAQ:VICL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday, Zacks.com reports. The firm currently has a $0.75 price target on the biotechnology company’s stock. Zacks Investment Research‘s target price points to a potential upside of 4.17% from the stock’s previous close.

According to Zacks, “Vical researches and develops biopharmaceutical products based on its patented DNA delivery technologies for the prevention and treatment of serious or life-threatening diseases. Potential applications of the company’s DNA delivery technology include DNA vaccines for infectious diseases or cancer, in which the expressed protein is an immunogen; cancer immunotherapeutics, in which the expressed protein is an immune system stimulant; and cardiovascular therapies, in which the expressed protein is an angiogenic growth factor. The company is developing certain infectious disease vaccines and cancer therapeutics internally. In addition, the company collaborates with major pharmaceutical companies and biotechnology companies that give it access to complementary technologies or greater resources. These strategic partnerships provide the company with mutually beneficial opportunities to expand its product pipeline and address significant unmet medical needs. “

VICL opened at $0.72 on Friday. Vical has a 52-week low of $0.72 and a 52-week high of $1.47. The firm has a market capitalization of $16.50 million, a P/E ratio of -0.89 and a beta of 0.28. The firm’s 50-day moving average is $0.85.

Vical (NASDAQ:VICL) last posted its quarterly earnings data on Thursday, May 2nd. The biotechnology company reported ($0.21) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.02). Vical had a negative net margin of 1,002.10% and a negative return on equity of 29.46%. On average, sell-side analysts forecast that Vical will post -0.36 earnings per share for the current fiscal year.

An institutional investor recently raised its position in Vical stock. Acadian Asset Management LLC grew its stake in shares of Vical Incorporated (NASDAQ:VICL) by 23.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 219,221 shares of the biotechnology company’s stock after acquiring an additional 41,036 shares during the quarter. Acadian Asset Management LLC owned about 1.00% of Vical worth $263,000 as of its most recent SEC filing. Institutional investors and hedge funds own 33.78% of the company’s stock.

Vical Company Profile

Vical Incorporated researches and develops biopharmaceutical products based on its DNA delivery technologies for the prevention and treatment of serious or life-threatening diseases. The company was founded in 1987 and is headquartered in San Diego, California.

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