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On Thursday, Ascendiant Capital analysts increased the price target for RenovoRx Inc. (NASDAQ: RNXT) stock to $11.50 from $11.00, while maintaining a Buy rating. Currently trading at $1.39, the stock has shown strong momentum with a 30% return over the past year. The decision was based on a net present value (NPV) analysis, which indicated a significant potential increase from the current share price.
The analysts noted that the current valuation of RenovoRx stock is appealing, with the revised price target reflecting a balance between the high risks and the large upside opportunities associated with the stock. According to InvestingPro data, analysts expect 33% revenue growth in FY2025, and the company maintains a strong balance sheet with more cash than debt. This adjustment suggests confidence in the company’s future performance and potential growth.
RenovoRx, a company listed on NASDAQ, continues to garner attention from investors and analysts alike. The revised price target underscores the firm’s belief in the stock’s potential for appreciation over the next 12 months.
The analysts’ comments emphasize the attractive valuation of RenovoRx, highlighting the potential for significant returns despite the inherent risks. This aligns with their continued confidence in the stock, as reflected in the maintained Buy rating.
In other recent news, RenovoRx reported its first-quarter 2025 financial results, revealing revenue of $200,000 from sales of its Renovocath device, exceeding internal expectations. Despite increased expenses, including $1.7 million in research and development costs, the company remains focused on growth through its clinical trials and strategic initiatives. RenovoRx is actively pursuing growth opportunities with its Transarterial Microperfusion (TAMP) therapy platform, which is currently undergoing a Phase III clinical trial for pancreatic cancer. The company aims to achieve full enrollment for its TIGRPAC trial by the end of 2025. Additionally, RenovoRx is exploring commercialization strategies, including potential partnerships with larger organizations. Analysts from Ascendiant Capital Markets have shown interest in the company’s plans for international market expansion, although RenovoRx has not yet disclosed specific timelines. The company holds $14.6 million in cash and cash equivalents as of March 31, 2025, providing a solid foundation for its ongoing projects.
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