Aegis Capital Starts Combimatrix Corp. (CBMX) at Buy

Aegis Capital initiates coverage on Combimatrix Corp. (NASDAQ: CBMX) with a Buy rating and a price target of $8.10.

Analyst Benjamin Haynor says investors are valuing the company at less than half the multiple of its comp group. He comments "Even the firms receiving the least generous 2017 EV/sales multiples within the comp group average 2.2x 2017 EV/sales. Although we find these firms as the most comparable to CombiMatrix at present, CBMX shares are awarded just 0.8x 2017 EV/sales."

Furthermore he believes the company is on the verge of profitability and will not require additional equity offerings.

For an analyst ratings summary and ratings history on Combimatrix Corp. click here. For more ratings news on Combimatrix Corp. click here.

Shares of Combimatrix Corp. closed at $5.15 yesterday.

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