H.C. Wainwright Reiterates Buy Rating on Evaxion Biotech (EVAX)

H.C. Wainwright analyst Swayampakula Ramakanth reiterated a Buy rating and $14.00 price target on Evaxion Biotech (NASDAQ: EVAX).

The analyst commented: "EVX-01 delivers positive Phase 2 data, validating PIONEER’s potential. On September 16, Evaxion presented the results from analysis of one-year follow-up data from the ongoing Phase 2 study evaluating EVX-01 in combination of pembrolizumab in 1L unresectable/metastatic melanoma at the 2024 annual Congress of European Society for Medical Oncology (ESMO). We are encouraged by the data update, which demonstrated promising efficacy (69% ORR) and a favorable safety and tolerability profile of the combination therapy. Importantly, 79% of the neoantigens identified by the PIONEER AI model that were encoded into EVX-01 elicited immunogenic response, which is unprecedented in the space of neoantigen cancer vaccines to our knowledge. We believe these data provide strong validation to Evaxion’s PIONEER platform and highlight its ability to identify clinically relevant neoantigen targets for cancer treatment. Based on the clinical validation of the AI model, we remain optimistic about partnership opportunities for both PIONEER platform and EVX-01. Reiterate Buy rating and $14 PT."

For an analyst ratings summary and ratings history on Evaxion Biotech click here. For more ratings news on Evaxion Biotech click here.

Shares of Evaxion Biotech closed at $3.15 yesterday.

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