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Cantor Fitzgerald Initiates Coverage of Galena Biopharma with Buy Rating, $4 PT

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UPDATE: MLV & Co Reiterates On Galena Biopharma On Positive Long-Term Outlook

In a report published earlier today, Cantor Fitzgerald L.P. initiated coverage of Galena Biopharma Inc. (NASDAQ: GALE) with a Buy rating and a $4.00 price target.

Cantor Fitzgerald went on to say “Galena Biopharma is a development-stage company with a clinical candidate, NeuVax, in Phase III testing for prevention of recurrence of breast cancer in women at high risk for recurrence. The concept of using medication to lower recurrence risk is not new (tamoxifen, aromatase inhibitors), but the targeted patient population - low HER2 expressers - represents a new paradigm in treating patients. The addressable market is sizable (multi-billion), but Galena and NeuVax's path to Phase III trials has been anything but straightforward. Nonetheless, the shares are modestly valued and incremental news flow combined with NeuVax's market opportunity makes the shares attractive.”

Galena Biopharma Inc. closed on Friday at $1.29.

Latest Ratings for GALE

DateFirmActionFromTo
Mar 2014McNicoll Lewis VlakMaintainsBuy
Feb 2014Cantor FitzgeraldDowngradesBuySell
Nov 2013OppenheimerInitiates Coverage onOutperform

View More Analyst Ratings for GALE
View the Latest Analyst Ratings

Posted-In: Cantor FitzgeraldAnalyst Color Initiation Analyst Ratings

 

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