H.C. Wainwright analyst Joseph Pantginis reiterated a Buy rating and $23 price target on Rexahn after the company reported Q1 results that were better than the firm expected, and ahead of the company's update later this year for RX-3117 in metPDAC. The analyst believes the shares "are not currently reflecting the RX-3117 and RX-5902 data delivered," and noted that while he believes "early RX-3117 data are compelling, they are still early, and believe that investors are looking for both durability of responses as well first looks at survival impacts later this year."