UPDATE: Cantor Fitzgerald Reiterates Buy Rating, Raises PT for NewLink Genetics
In a company update published earlier today, Cantor Fitzgerald L.P. reiterated its Buy rating for NewLink Genetics Corporation (NASDAQ: NLNK) and raised its price target from $15.00 to $18.00.
Cantor Fitzgerald went on to say “We have identified what we believe to be critical success factors for a cancer immunotherapy company and further believe that NewLink meets these criteria. The company has identified appropriate clinical settings with which to test its technology (modest disease burden, consistent booster dosing), has a robust trial design, is addressing critical unmet medical needs, and has a scalable, financially reasonable manufacturing process and technology. Additionally, the stage and depth of NewLink's clinical program is compelling, in our view, and there are multiple opportunities for milestone updates over the next 24 months. We are particularly encouraged by the Phase II HyperAcute Pancreas study as two- and three-year disease free and overall survival showed a strong and sustained response to the vaccine in a statistically significant manner.”
NewLink Genetics Corporation closed yesterday at $12.41.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.