In a report released today, Yi Chen from H.C. Wainwright reiterated a Buy rating on Anixa Biosciences (ANIX – Research Report), with a price target of $7.00.
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Yi Chen’s rating is based on a combination of factors that highlight the potential of Anixa Biosciences’ CAR-T therapy and breast cancer vaccine. The recent amendment to the ovarian cancer CAR-T trial protocol allows for a second dose and includes a broader range of eligible patients, which could enhance the treatment’s clinical efficacy and expand its applicability. This amendment indicates a significant step forward in the trial process, potentially increasing the therapy’s impact and value.
Additionally, Anixa Biosciences has outlined ambitious goals for 2025, including completing ongoing trials and advancing new developments in vaccines for various cancers. The company’s financial position, with a cash runway of approximately 2.5 years, supports these endeavors. The valuation of the company is based on a calculated market value, incorporating potential future revenues from the therapies under development, despite inherent risks such as clinical trial failures or market penetration challenges.
Based on the recent corporate insider activity of 21 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 ANIX in relation to earlier this year.