CytoDyn (CYDY) Raised to Buy at Zacks Investment Research
CytoDyn (OTCMKTS:CYDY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The firm currently has a $0.75 price target on the biotechnology company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 19.60% from the company’s current price.
According to Zacks, “CytoDyn is a biotechnology company focused on the clinical development and potential commercialization of humanized monoclonal antibodies for the treatment and prevention of HIV infection. The Company has one of the leading monoclonal antibodies under development for HIV infection, PRO 140, which has completed Phase 2 clinical trials with demonstrated antiviral activity in humans and is currently in Phase 3 development. PRO 140 blocks the HIV co-receptor CCR5 on T cells, which prevents viral entry. Clinical trial results thus far indicate that PRO 140 does not negatively affect the normal immune functions that are mediated by CCR5. Results from seven Phase 1 and Phase 2 human clinical trials have shown that PRO 140 can significantly reduce viral burden in people infected with HIV. A recent Phase 2b clinical trial demonstrated that PRO 140 can prevent viral escape in patients during several months of interruption from conventional drug therapy. “
Separately, HC Wainwright set a $2.00 price objective on CytoDyn and gave the stock a “buy” rating in a report on Friday.
CytoDyn (OTCMKTS:CYDY) last announced its quarterly earnings results on Thursday, August 2nd. The biotechnology company reported ($0.04) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.02. equities analysts expect that CytoDyn will post -0.21 earnings per share for the current year.
CytoDyn Inc, a clinical-stage biotechnology company, focuses on the clinical development and commercialization of humanized monoclonal antibodies for the treatment and prevention of human immunodeficiency virus (HIV) infection. Its lead product under development for HIV infection include PRO 140, a therapeutic anti-viral agent, which is in Phase IIb treatment substitution trial, Phase IIb extension study, Phase IIb/III pivotal trial, and Phase IIb/III investigative trial for HIV; and Phase II trial for graft-versus-host disease.
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