The medical technology company Aethlon Medical, Inc. (AEMD), which is focused on addressing unmet needs in global health, has been in headlines for its lead product, Hemopurifier. The product is verified to bind and remove glycosolated viruses from circulation, including SARS-CoV-2 removal from blood in human patients. Notably, over the past six months, the company has skyrocketed around 140%. (See Aethlon Medical stock analysis on TipRanks)
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Recently, the company received the FDA’s approval for a supplement to its open IDE for the Hemopurifier in viral disease. The permit allows Aethlon to test the Hemopurifier in patients with SARS-CoV-2/COVID-19 in a New Feasibility Study. Furthermore, under Single Patient Emergency Use regulations, the company has already helped in the treatment of two patients with COVID-19 with the Hemopurifier.
Last week, Aethlon reported a net loss for the fiscal year ending on March 31, 2021. Total revenues were 1.4% year-over-year, while loss per share was reduced more than half compared to the prior year.
Following the earnings release, Anthony Vendetti of Maxim Group maintained the stock’s Buy rating and a price target of $11, which implies 114.8% upside potential from current levels. “Although AEMD is an early-stage development company,” Vendetti is eyeing prospects in cancer and infectious disease treatment markets.
The analyst remains positive on the company, given its two ongoing studies and prospective Hemopurifier device. The analyst noted that the device is likely to remove from circulation viruses and cancers that cause exosomes safely and effectively.
In a note to investors, Vendetti said that Aethlon is currently planning to enroll a second cancer patient for its Early Feasibility Study (EFS), together with the University of Pittsburgh Medical Center’s referral program. The move is likely to increase patient enrollment. Notably, the EFS includes patients with advanced and/or metastatic squamous cell carcinoma of the head and neck, and examines the Hemopurifier along with Merck’s (MRK) Keytruda, a first-line immunotherapy.
Furthermore, the analyst expects the company “to burn approximately $2.1 million per quarter through FY22 (March),” and believes “AEMD has sufficient capital to last through FY23.”
On TipRanks, Aethlon is a Moderate Buy based on 2 Buy ratings. The average Aethlon analyst price target of $10 implies upside potential of 95.3% from the current levels.
TipRanks’ Stock Investors tool shows that investors currently have a Very Positive stance on Aethlon, with 50.7% of investors who hold portfolios on TipRanks increasing their exposure to AEMD stock over the past 30 days.
Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your analysis before making any investment.
