H.C. Wainwright Reiterates Buy Rating on Anixa Biosciences (ANIX)

H.C. Wainwright analyst Yi Chen reiterated a Buy rating and $7.00 price target on Anixa Biosciences (NASDAQ: ANIX).

The analyst commented: "Anixa Biosciences announced on June 23 that the ongoing Phase 1 trial of its CAR-T therapy in ovarian cancer has dosed the first patient in the fourth cohort. We note that the first cohort had the dose of 1x105 cells/kg, followed by 3x105 cells/kg for the second cohort and 1x106 cells/kg for the third cohort. No dose limiting toxicity was observed in the three patients of the third cohort, thus enabling the trial to advance to the fourth cohort with the dose of 3x106 cells/kg. Investors may recall that Anixa’s CAR-T therapy comprises engineered T cells targeting the follicle stimulating hormone receptor (FSHR) expressed on the granulosa cells of the ovaries, and it is also known as Chimeric Endocrine Receptor T-cell (CER-T) therapy. Enrolled subjects are adult women with recurrent ovarian cancer who have progressed on at least two prior therapies. We believe that the higher doses could increase the likelihood of a partial or complete response. The trial is being conducted in partnership with Moffitt Cancer Center. In February 2025, Anixa and Moffitt Cancer Center received approval for an amendment to the protocol for the Phase 1 trial in ovarian cancer. Specifically, the amendment allows patients who may benefit from a second dose of the CAR-T therapy to receive it and expands enrollment eligibility to include patients with sex cord stromal tumor (SCST) and Sertoli-Leydig cell tumor (SLCT). We expect further updates from the trial in the coming months. We reiterate our Buy rating and $7 PT."

For an analyst ratings summary and ratings history on Anixa Biosciences click here. For more ratings news on Anixa Biosciences click here.

Shares of Anixa Biosciences closed at $3.33 yesterday.

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