Gilford Securities Reiterates Buy on VirnetX Holding Corporation on Jury Decision
In a report published Friday, Gilford Securities analyst Robert V. Tango, Jr. reiterated his Buy rating and $65.00 price target on VirnetX Holding Corporation (NYSE: VHC).
In the report, Tango noted, “Four key aspects were to be examined: infringement, validity, willful infringement, and damages. Yesterday the Jury determined Cisco did not infringe (improperly utilize VirnetX technology in prior years - primarily desktop enterprise solutions); however, the Jury concluded all respective patents (‘135, ‘211, ‘504 and ‘759 via JMOL) are valid (decisions re willful and damages were not necessary as a result of the infringement determination). During the previous three years, it was determined via jury trials both Microsoft and Apple infringed (same/similar patents and principles); additionally, Aastra, Mitel, NEC, and Siemens settled, indirectly implying these players may have infringed as well - despite great success, yesterday's decision came as a surprise and demonstrates the nuances and risk of a jury trial.”
VirnetX Holding Corporation closed on Thursday at $25.75.
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