Gilford Securities Starts VirnetX Holding (VHC) at Buy; Core Licensing Model Very Well Positioned

Gilford Securities initiates coverage on VirnetX Holding (NYSE: VHC) with a Buy. PT $65.00.

Analyst, Robert V. Tango, Jr, said, "Despite skepticism, we believe VirnetX legal strategy and execution has been very effective. Reexaminations of several patents (excluding ‘180), questions surrounding the strength of its case and core IP pre-Markman, on-going concerns related to Aventail (prior art argument), and the lack of licensing deals caused many to question the underlying strength of the company’s model. While the development of the licensing model (and several aspects to litigation) remain in the early stages, the company’s legal and business strategies have demonstrated tangible progress f r approximately four quarters – we anticipate progress to continue during 2H 2012 (in our opinion, additional settlements and licensing deals with existing litigants and non-litigants may occur)."

For an analyst ratings summary and ratings history on VirnetX Holding click here. For more ratings news on VirnetX Holding click here.

Shares of VirnetX Holding closed at $30.12 yesterday, with a 52 week range of $11.01-$41.77.