Zacks Investment Research upgraded shares of Vical (NASDAQ:VICL) from a hold rating to a buy rating in a research note issued to investors on Saturday. They currently have $1.75 price target on the biotechnology company’s stock.
According to Zacks, “Vical researches and develops biopharmaceutical products based on its patented DNA delivery technologies for the prevention and treatment of serious or life-threatening diseases. Potential applications of the company’s DNA delivery technology include DNA vaccines for infectious diseases or cancer, in which the expressed protein is an immunogen; cancer immunotherapeutics, in which the expressed protein is an immune system stimulant; and cardiovascular therapies, in which the expressed protein is an angiogenic growth factor. The company is developing certain infectious disease vaccines and cancer therapeutics internally. In addition, the company collaborates with major pharmaceutical companies and biotechnology companies that give it access to complementary technologies or greater resources. These strategic partnerships provide the company with mutually beneficial opportunities to expand its product pipeline and address significant unmet medical needs. “
VICL has been the topic of a number of other reports. ValuEngine raised Vical from a strong sell rating to a sell rating in a report on Friday, February 2nd. HC Wainwright reissued a buy rating on shares of Vical in a report on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Vical currently has an average rating of Buy and a consensus price target of $5.25.
Vical (NASDAQ:VICL) last released its earnings results on Thursday, March 15th. The biotechnology company reported ($0.21) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.10). The company had revenue of $3.95 million for the quarter, compared to analysts’ expectations of $4.60 million. Vical had a negative net margin of 93.78% and a negative return on equity of 28.22%. analysts expect that Vical will post -0.56 EPS for the current fiscal year.
In other Vical news, major shareholder Armistice Capital Master Fund purchased 100,000 shares of the firm’s stock in a transaction on Monday, January 22nd. The shares were acquired at an average cost of $1.43 per share, with a total value of $143,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.88% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of the company. Ariel Investments LLC increased its holdings in shares of Vical by 9.6% in the fourth quarter. Ariel Investments LLC now owns 637,913 shares of the biotechnology company’s stock worth $1,167,000 after purchasing an additional 55,669 shares during the last quarter. New York State Common Retirement Fund increased its holdings in shares of Vical by 83.6% in the second quarter. New York State Common Retirement Fund now owns 130,706 shares of the biotechnology company’s stock worth $354,000 after purchasing an additional 59,504 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Vical by 195.0% in the fourth quarter. Geode Capital Management LLC now owns 111,688 shares of the biotechnology company’s stock worth $204,000 after purchasing an additional 73,822 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of Vical in the fourth quarter worth about $140,000. Finally, Renaissance Technologies LLC increased its holdings in shares of Vical by 17.2% in the fourth quarter. Renaissance Technologies LLC now owns 677,229 shares of the biotechnology company’s stock worth $1,239,000 after purchasing an additional 99,420 shares during the last quarter. 55.03% of the stock is currently owned by hedge funds and other institutional investors.
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Vical Incorporated researches and develops biopharmaceutical products based on its deoxyribonucleic acid (DNA) delivery technologies for the prevention and treatment of life-threatening diseases. The Company has approximately four active, independent, or partnered development programs in the areas of infectious disease including Phase III clinical trial of ASP0113 for prevention of cytomegalovirus (CMV) reactivation in stem cell transplant recipients and Phase II clinical trial of ASP0113 for prevention of CMV infection in kidney transplant recipients; Phase I/II clinical trial of its therapeutic genital herpes vaccine, designed to reduce viral shedding and genital herpes lesions in herpes simplex virus type 2 (HSV-2) infected patients; an ongoing Phase I program of VL-2397 for invasive fungal infections, and completed preclinical program, with an allowed investigational new drug application (IND) using its CyMVectin prophylactic vaccine formulated with its Vaxfectin adjuvant.
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