Maxim Group Reiterates “Buy” Rating for Aridis Pharmaceuticals (NASDAQ:ARDS)
Maxim Group reissued their buy rating on shares of Aridis Pharmaceuticals (NASDAQ:ARDS) in a research note released on Thursday morning, AnalystRatings.com reports. The firm currently has a $25.00 target price on the stock.
“Aridis reported 2Q19 with a net loss of ($8.4M) and ended the period with $8.5M in cash on the balance sheet. This excludes the recently announced partnership with India (private) which brought a $10M equity investment into Aridis, a $5M upfront payment and an option for an additional $10M. As such, Aridis is funded into 2020 and through the next key catalyst, the AR-105 global phase 2 data in ventilator-associated pneumonia (VAP) caused by pseudomonas aeruginosa. The trial, if positive could potentially serve as one of two pivotal studies in support of a BLA.”,” Maxim Group’s analyst commented.
Several other brokerages have also recently weighed in on ARDS. ValuEngine upgraded Aridis Pharmaceuticals from a hold rating to a buy rating in a research report on Thursday, August 1st. Northland Securities reiterated a buy rating and set a $40.00 price target on shares of Aridis Pharmaceuticals in a research report on Tuesday, August 13th. Finally, Zacks Investment Research raised Aridis Pharmaceuticals from a sell rating to a hold rating in a report on Tuesday, July 16th. One analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $27.50.
Aridis Pharmaceuticals (NASDAQ:ARDS) last announced its quarterly earnings results on Monday, August 12th. The company reported ($1.03) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.84) by ($0.19). Aridis Pharmaceuticals had a negative net margin of 660.78% and a negative return on equity of 130.22%. Equities analysts expect that Aridis Pharmaceuticals will post -3.78 earnings per share for the current year.
About Aridis Pharmaceuticals
Aridis Pharmaceuticals Inc, a late-stage biopharmaceutical company, focuses on the discovery and development of targeted immunotherapy using fully human monoclonal antibodies (mAb) to treat life-threatening infections. Its lead product candidate is AR-301, a fully human mAb of immunoglobulin 1 (IgG1) that is in Phase III pivotal trials for the treatment of lung infections resulting from S.
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