Vaccinex (NASDAQ:VCNX) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Vaccinex (NASDAQ:VCNX) from a hold rating to a buy rating in a research report sent to investors on Saturday, Zacks.com reports. The brokerage currently has $2.75 price target on the stock.

According to Zacks, “Vaccinex, Inc. is a clinical-stage immunotherapy company. It engages in the discovery and development of biotherapeutics to treat serious diseases and conditions with unmet medical needs, including cancer, neurodegenerative diseases and autoimmune disorders. The company’s product pipeline consists of VX15, VX5 and VX25 which are in clinical stage. Vaccinex, Inc. is based in Rochester, New York. “

VCNX stock opened at $2.59 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.48 and a quick ratio of 4.48. The firm has a 50 day simple moving average of $2.51. Vaccinex has a 12-month low of $1.63 and a 12-month high of $9.56.

Vaccinex (NASDAQ:VCNX) last released its earnings results on Monday, May 17th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.09. The business had revenue of $0.85 million during the quarter. Analysts anticipate that Vaccinex will post -1.14 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in VCNX. Tacita Capital Inc bought a new position in shares of Vaccinex in the fourth quarter valued at approximately $28,000. Bank of New York Mellon Corp purchased a new position in Vaccinex in the first quarter valued at approximately $54,000. Virtu Financial LLC purchased a new position in Vaccinex in the first quarter valued at approximately $56,000. Institute for Wealth Management LLC. purchased a new position in Vaccinex in the first quarter valued at approximately $60,000. Finally, Squarepoint Ops LLC purchased a new position in Vaccinex in the fourth quarter valued at approximately $84,000. 3.29% of the stock is owned by institutional investors.

Vaccinex Company Profile

Vaccinex, Inc, a clinical-stage biotechnology company, engages in the discovery and development of targeted biotherapeutics to treat serious diseases and conditions with unmet medical needs. The company offers its products for the treatment of cancer, neurodegenerative diseases, and autoimmune disorders.

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