Vical Inc. (VICL) Cut to “Hold” at Zacks Investment Research
Vical Inc. (NASDAQ:VICL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
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 restated a “buy” rating on shares of Vical in a research note on Tuesday, July 19th.
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Shares of Vical (NASDAQ:VICL) traded down 0.33% during midday trading on Wednesday, reaching $3.00. The company’s stock had a trading volume of 834 shares. Vical has a one year low of $2.80 and a one year high of $5.40. The stock’s 50-day moving average is $3.48 and its 200-day moving average is $3.99. The company’s market capitalization is $27.62 million.
Vical (NASDAQ:VICL) last posted its quarterly earnings results on Tuesday, August 9th. The company reported ($0.14) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.28) by $0.14. Vical had a negative return on equity of 14.18% and a negative net margin of 30.81%. The company had revenue of $4.10 million for the quarter, compared to analysts’ expectations of $4.50 million. On average, equities analysts expect that Vical will post ($0.86) earnings per share for the current fiscal year.
Several hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC boosted its stake in 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. ClariVest Asset Management LLC purchased a new stake in Vical during the second quarter worth approximately $208,000. BlackRock Fund Advisors boosted its stake in 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. Finally, Eagle Global Advisors LLC purchased a new stake in Vical during the second quarter worth approximately $178,000. Institutional investors and hedge funds own 31.48% of the company’s stock.
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