BMO Capital Markets Reiterates Market Perform Rating, $6 PT for ZIOPHARM Oncology
In a report published earlier today, BMO Capital Markets reiterated its Market Perform rating and $6.00 price target for ZIOPHARM Oncology, Inc. (NASDAQ: ZIOP).
BMO Capital went on to say “While we are encouraged by progress toward broadening of palifosfamide development beyond soft tissue sarcoma (STS), we continue to believe that a high hurdle exists to demonstrate a statistically significant benefit in progression free survival (PFS). Certainly phase 2 PICASSO2 data is encouraging; however, patient numbers were small and confidence intervals were wide. We believe the DNA therapeutics platform in oncology and IL-12 gene activation therapy in melanoma specifically could drive significant value; however, safety of the oral gene activator, therapeutic index of the IL12 component and further detail on phase 2 design and regulatory path will be important to better assess the opportunity.”
ZIOPHARM Oncology, Inc. closed yesterday at $5.89.
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