Jones Trading has initiated research coverage of RenovoRx Inc. (NASDAQ: RNXT), assigning a Buy recommendation and a price target of $8.00. At the time the coverage began the company’s shares were trading at $0.96, making the $8.00 target indicative of a potential 733% upside from that level.
Data supplied by InvestingPro included in the firm’s write-up frames the stock as trading below its Fair Value assessment. Analyst target prices compiled in that dataset span from $2.75 to $12.50, reflecting a wide range of expectations among market participants.
RenovoRx is a commercial-stage medical technology company whose lead product is an FDA-cleared dual-balloon catheter, branded RenovoCath. Jones Trading described the device as designed to enhance delivery of anti-cancer agents to tumors with poor perfusion. The firm noted that the technology is seen as particularly applicable to pancreatic cancer, and that clinicians have expressed interest in evaluating the catheter across additional solid tumor types including lung cancer, bile duct cancer, glioblastoma, sarcomas, and uterine cancer.
On financial footing, the InvestingPro figures cited by Jones Trading show RenovoRx holding more cash than debt, and report a current ratio of 5.83. That liquidity profile was highlighted as providing the company financial flexibility as it moves to commercialize its technology.
A central element of Jones Trading’s optimism is RenovoRx’s ongoing pivotal Phase III study, TIGeR-PaC, which is investigating intra-arterial gemcitabine (referred to as IAG) against the standard of IV gemcitabine in combination with nab-paclitaxel for locally advanced pancreatic cancer. The firm expects final topline data from that trial in fiscal year 2027. Jones Trading indicated that if regulatory clearance were achieved, IAG could see rapid uptake and command premium pricing given the unmet therapeutic need in this patient population.
Analysts surveyed in the InvestingPro dataset are modeling sales growth for the current year, with revenue projections increasing by 27.9% versus the prior period. Those forecasts are set against RenovoRx’s then-reported market capitalization of $35.18 million.
In recent company developments, RenovoRx reported third-quarter 2025 results that showed revenues below consensus expectations. The company’s earnings per share, however, came in line with analyst estimates. Following the earnings release the stock experienced a modest decline. According to the information provided, analyst firms did not issue any upgrades or downgrades in response to the quarter’s results.
Investors and market observers will be monitoring how RenovoRx addresses the revenue shortfall in upcoming quarters while advancing its clinical program and commercial efforts.
Summary
Jones Trading initiated coverage on RenovoRx with a Buy rating and an $8.00 target, suggesting substantial upside from the prevailing share price. The firm highlighted the RenovoCath dual-balloon catheter, the TIGeR-PaC Phase III trial for intra-arterial gemcitabine, and the company's liquid balance-sheet position. RenovoRx’s most recent quarter missed revenue expectations but delivered EPS in line with forecasts, and the stock dipped modestly after the release.
Key points
- Coverage initiation: Jones Trading assigned a Buy rating with an $8.00 price target, implying about 733% upside from $0.96.
- Product and pipeline: The company markets an FDA-cleared dual-balloon catheter, RenovoCath, and is conducting the pivotal TIGeR-PaC Phase III trial for intra-arterial gemcitabine in locally advanced pancreatic cancer.
- Financial snapshot: InvestingPro data indicate cash exceeds debt and a current ratio of 5.83; analysts project revenue growth of 27.9% for the current year and show target prices from $2.75 to $12.50.
Risks and uncertainties
- Clinical and regulatory risk - The pivotal TIGeR-PaC trial must deliver favorable topline data and secure regulatory clearance; final topline results are expected in fiscal year 2027.
- Commercial execution and revenue risk - The company reported a third-quarter 2025 revenue shortfall versus expectations, and future quarters will need to show improved revenue performance to validate growth projections.
- Market reaction and analyst coverage - The stock declined modestly after the earnings release, and no analyst upgrades or downgrades were reported following the quarter, leaving near-term sentiment and coverage changes uncertain.
Tags: RenovoRx, Medtech, ClinicalTrials, Oncology