Vical Inc. (VICL) Upgraded by Zacks Investment Research to “Buy”
Vical Inc. (NASDAQ:VICL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage presently has a $3.50 target price on the stock. Zacks Investment Research’s target price would indicate a potential upside of 14.38% from the stock’s previous close.
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. “
Separately, HC Wainwright reaffirmed a “buy” rating on shares of Vical in a research report on Tuesday, July 19th.
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Shares of Vical (NASDAQ:VICL) opened at 3.06 on Wednesday. Vical has a 52-week low of $2.80 and a 52-week high of $5.50. The company’s market capitalization is $28.17 million. The firm’s 50-day moving average price is $3.99 and its 200 day moving average price is $4.09.
Vical (NASDAQ:VICL) last posted its quarterly earnings data on Tuesday, August 9th. The company reported ($0.14) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.28) by $0.14. Vical had a negative net margin of 30.81% and a negative return on equity of 14.18%. The company had revenue of $4.10 million for the quarter, compared to analyst estimates of $4.50 million. On average, equities analysts forecast that Vical will post ($0.86) earnings per share for the current year.
Several institutional investors have recently modified their holdings of VICL. BlackRock Fund Advisors raised its position in shares of Vical by 32.5% in the second quarter. BlackRock Fund Advisors now owns 23,459 shares of the company’s stock worth $106,000 after buying an additional 5,750 shares during the period. Eagle Global Advisors LLC bought a new position in shares of Vical during the second quarter worth approximately $178,000. ClariVest Asset Management LLC bought a new position in shares of Vical during the second quarter worth approximately $208,000. Finally, Renaissance Technologies LLC raised its position in shares of Vical by 29.8% in the first quarter. Renaissance Technologies LLC now owns 2,073,599 shares of the company’s stock worth $811,000 after buying an additional 476,499 shares during the period. 31.48% of the stock is currently owned by institutional investors and hedge funds.
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