Brokers Issue Forecasts for RenovoRx FY2024 Earnings

RenovoRx, Inc. (NASDAQ:RNXT) – Stock analysts at HC Wainwright issued their FY2024 earnings per share estimates for RenovoRx in a research note issued to investors on Thursday, March 27th. HC Wainwright analyst S. Ramakanth forecasts that the company will post earnings of ($0.41) per share for the year. HC Wainwright currently has a “Buy” rating and a $3.00 price target on the stock. The consensus estimate for RenovoRx’s current full-year earnings is ($0.40) per share. HC Wainwright also issued estimates for RenovoRx’s Q4 2024 earnings at ($0.13) EPS, Q1 2025 earnings at ($0.08) EPS, Q2 2025 earnings at ($0.08) EPS, Q3 2025 earnings at ($0.08) EPS, Q4 2025 earnings at ($0.08) EPS, FY2025 earnings at ($0.32) EPS, FY2026 earnings at ($0.25) EPS, FY2027 earnings at $0.08 EPS, FY2028 earnings at $0.26 EPS and FY2029 earnings at $0.38 EPS.

Separately, Ascendiant Capital Markets lifted their price target on shares of RenovoRx from $8.25 to $9.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th.

RenovoRx Trading Down 2.0 %

Shares of RenovoRx stock opened at $1.00 on Monday. The business has a fifty day simple moving average of $1.12 and a two-hundred day simple moving average of $1.15. The firm has a market capitalization of $24.00 million, a P/E ratio of -1.75 and a beta of 1.15. RenovoRx has a 12 month low of $0.77 and a 12 month high of $1.69.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Citadel Advisors LLC purchased a new stake in shares of RenovoRx in the fourth quarter worth $49,000. Renaissance Technologies LLC bought a new position in RenovoRx in the 4th quarter worth about $84,000. Finally, Geode Capital Management LLC grew its position in RenovoRx by 61.9% during the 3rd quarter. Geode Capital Management LLC now owns 232,937 shares of the company’s stock valued at $247,000 after purchasing an additional 89,018 shares during the last quarter. Hedge funds and other institutional investors own 3.10% of the company’s stock.

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.