RenovoRx (NASDAQ:RNXT) Posts Earnings Results, Misses Estimates By $0.01 EPS

RenovoRx (NASDAQ:RNXT) released its quarterly earnings results on Monday. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.01), reports. The firm had revenue of $0.04 million for the quarter, compared to analysts’ expectations of $0.17 million.

RenovoRx Stock Up 1.0 %

NASDAQ:RNXT traded up $0.01 during midday trading on Wednesday, hitting $0.97. The company had a trading volume of 5,776 shares, compared to its average volume of 70,506. The company has a market capitalization of $23.28 million, a PE ratio of -1.70 and a beta of 1.15. RenovoRx has a 52-week low of $0.77 and a 52-week high of $1.69. The stock’s fifty day moving average price is $1.10 and its 200-day moving average price is $1.15.

Analysts Set New Price Targets

Several equities analysts recently commented on RNXT shares. Ascendiant Capital Markets boosted their target price on RenovoRx from $8.25 to $9.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. HC Wainwright initiated coverage on RenovoRx in a report on Thursday, March 27th. They set a “buy” rating and a $3.00 price objective for the company.

RenovoRx Company Profile

RenovoRx, Inc, a clinical-stage biopharmaceutical company, focuses on developing proprietary targeted combination therapies to improve therapeutic outcomes for cancer patients undergoing treatment. Its lead product candidate is RenovoGem, an oncology drug-device combination product, consisting of intra-arterial gemcitabine and RenovoCath that is in Phase III clinical trials for the locally advanced pancreatic cancer.