Vaccinex (VCNX) Raised 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 released on Thursday, Zacks.com reports. Zacks Investment Research currently has $8.75 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. “

Separately, Oppenheimer set a $22.00 price objective on Vaccinex and gave the company a buy rating in a report on Wednesday, January 16th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $17.58.

NASDAQ VCNX opened at $6.90 on Thursday. Vaccinex has a twelve month low of $3.32 and a twelve month high of $12.00.

Vaccinex (NASDAQ:VCNX) last released its quarterly earnings data on Wednesday, May 15th. The company reported ($0.79) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.75) by ($0.04). The company had revenue of $0.09 million during the quarter. Equities analysts anticipate that Vaccinex will post -2.2 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in VCNX. Vanguard Group Inc acquired a new position in Vaccinex during the 3rd quarter worth about $341,000. Vanguard Group Inc. acquired a new position in Vaccinex during the 3rd quarter worth about $341,000. Bank of New York Mellon Corp acquired a new position in Vaccinex during the 3rd quarter worth about $124,000. Finally, Telemetry Investments L.L.C. lifted its holdings in Vaccinex by 26.3% during the 4th quarter. Telemetry Investments L.L.C. now owns 14,720 shares of the company’s stock worth $54,000 after buying an additional 3,066 shares during the period. 2.10% of the stock is currently owned by hedge funds and other institutional investors.

About Vaccinex

Vaccinex, Inc, a clinical-stage biotechnology company, discovers and develops bio therapeutics to treat serious diseases and conditions with unmet medical needs, including cancer, neurodegenerative diseases, and autoimmune disorders. Its lead product candidate is pepinemab that is in clinical development stage for the treatment of non-small cell lung cancer (NSCLC), osteosarcoma, melanoma, and Huntington's disease.

See Also: The role of implied volatility with call option volume

Get a free copy of the Zacks research report on Vaccinex (VCNX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Vaccinex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vaccinex and related companies with MarketBeat.com's FREE daily email newsletter.