H.C. Wainwright & Co. Retains Positive Outlook On OXiGENE

In a report published Thursday, H.C. Wainwright & Co. analyst Reni Benjamin reiterated a Buy rating and $6.00 price target on OXiGENE Inc. (NASDAQ: OXGN).

In the report, H.C. Wainwright & Co. noted, "We are reiterating our Buy rating and 12-month target price of $6 based on a discounted P/E analysis. OXiGENE's lead drug candidate, Zybrestat (fosbretabulin), is a vascular disrupting agent (VDA) which demonstrated statistically significant results in a Phase 2, GOG-conducted ovarian cancer study in combination with Avastin. With guidance from the FDA regarding a planned Phase 3 trial in Pt-resistant ovarian cancer expected in 2Q15, new data from several ongoing clinical trials expected in the next 12 months, the potential for a corporate partnership, and $37 MM in cash (pro forma), we believe OXiGENE represents an undervalued player with significant upside for the long-term investor."

OXiGENE closed on Wednesday at $1.46.