In a report released today, Vernon Bernardino from H.C. Wainwright reiterated a Buy rating on GeoVax Labs (GOVX – Research Report), with a price target of $8.00.
Vernon Bernardino of H.C. Wainwright firm has given a Buy rating to GeoVax Labs’s stock (GOVX) for a number of reasons. The company’s recent operational updates show promising progress in their clinical trials, particularly with their next-generation COVID-19 vaccine, GEO-CM04S1 (04S1), and their novel oncolytic solid tumor gene-directed therapy, Gedeptin. Initial data readouts from the Phase 2 trials of these products are expected in the near future, and early indications show a strong immune response elicited by 04S1, particularly in high-risk, immunocompromised patient populations.
Despite GeoVax’s shares currently trading near 52-week lows, Bernardino sees the company’s stock as a value proposition due to the positive initial readouts from the Phase 2 studies with 04S1 and Gedeptin. The analyst also noted that the company’s financial losses in the third quarter of 2023 were larger than expected due to ramped-up R&D expenses to support 04S1 and Gedeptin clinical trials. However, GeoVax ended the quarter with $12.7M in cash and equivalents, which Bernardino estimates is sufficient to continue the company’s operations. These factors, along with the expectation of positive updates from the trials acting as catalysts in early 2024, have led to Bernardino’s Buy rating and $8 price target on GeoVax’s stock.
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GeoVax Labs (GOVX) Company Description:
GeoVax Labs, Inc. is a clinical-stage biotechnology company, which engages in the development of human vaccines and immunotherapies against infectious diseases and cancer using its novel vaccine platform. It focuses on human immunodeficiency virus, zika virus, hemorrhagic fever viruses, and malaria. The company was founded by Harriet Latham Robinson and Donald G. Hildebrand on September 9, 2006 and is headquartered in Smyrna, GA.
Read More on GOVX:
- GeoVax Reports Third Quarter 2023 Financial Results and Provides Business Update
- GeoVax Labs reports Q3 EPS (32c), consensus (24c)
- GOVX Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- GeoVax Labs commences site expansion for Phase 2 trial of COVID-19 vaccine
- GeoVax Commences Site Expansion for Phase 2 Trial of Next-Generation COVID-19 Vaccine
