Maxim Group Reaffirms Buy Rating for Check-Cap Ltd. (CHEK)
Maxim Group reaffirmed their buy rating on shares of Check-Cap Ltd. (NASDAQ:CHEK) in a research report released on Wednesday. Maxim Group currently has a $5.00 price objective on the medical research company’s stock.
“Summary Check-Cap announced that the company has filed for the CE Mark registration of C-Scan. Sure, that is positive news. We worry that the reported 44% sensitivity” in N=45 subjects is low but we see room for that number to rise with improved software. The press release goes on to state that in the analysis for polyps, specificity was 89%”. Sensitivity strongly correlated (R-squared = 0.98) to the percentage of the colon scanned. Sensitivity was 78% (p<0.05) and 100% (p<0.05) for subjects where greater than 50% and 70% of the colon was scanned, respectively. Specificity was consistent for all subjects. We conclude that for CE Mark and in Europe where the standard of care is comparable (stool test) that the data should support an approval. We also recognize however that the US standard will be much higher as the US comparison must be colonoscopy (85-90%) sensitive.",” Maxim Group’s analyst wrote.
Other research analysts also recently issued reports about the company. Zacks Investment Research downgraded Check-Cap from a buy rating to a hold rating in a research note on Tuesday, July 18th. ValuEngine raised Check-Cap from a strong sell rating to a sell rating in a research note on Thursday, August 17th. Finally, HC Wainwright set a $6.00 price target on Check-Cap and gave the stock a buy rating in a research note on Friday, August 11th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $5.00.
Check-Cap (NASDAQ:CHEK) traded down 7.1878% on Wednesday, hitting $1.8284. The company had a trading volume of 127,508 shares. The stock’s 50-day moving average price is $1.78 and its 200 day moving average price is $1.78. The company’s market capitalization is $31.04 million. Check-Cap has a one year low of $1.70 and a one year high of $2.95.
Check-Cap (NASDAQ:CHEK) last posted its quarterly earnings results on Thursday, August 10th. The medical research company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01). On average, analysts expect that Check-Cap will post ($0.63) EPS for the current fiscal year.
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A hedge fund recently raised its stake in Check-Cap stock. Knott David M increased its holdings in Check-Cap Ltd. (NASDAQ:CHEK) by 1.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 162,871 shares of the medical research company’s stock after acquiring an additional 3,000 shares during the period. Knott David M owned about 1.05% of Check-Cap worth $349,000 at the end of the most recent quarter. 19.29% of the stock is currently owned by institutional investors and hedge funds.
Check-Cap Company Profile
Check-Cap Ltd. (Check-Cap) is a clinical-stage medical diagnostics company. The Company is engaged in the development of an ingestible imaging capsule that utilizes low-dose X-rays for the detection and imaging of colonic polyps and colorectal cancers, or CRC. The Company’s system consists of main components, such as ingestible scanning capsule; Capsule Positioning System (CPS), a recorder worn on the patient’s back, and a personal computer (PC)-based work station for data reconstruction and image processing.
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