UPDATE: McNicoll Lewis Vlak Initiates Galena Biopharma at Buy on Cancer Vaccine Potential
McNicoll Lewis Vlak initiated coverage on Galena Biopharma (NASDAQ: GALE) with a Buy rating and a $6 price target.
McNicoll Lewis Vlak commented, "As we near the end of Breast Cancer Awareness month, we are initiating coverage on Galena Biopharma Inc. with a BUY recommendation and one-year price target of $6.00 based on the company's lead Phase III asset, a cancer vaccine called NeuVax. An ongoing Phase III trial, being conducted under a Special Protocol Assessment (SPA), is targeting breast cancer patients who are classified as HER2/neu negative but have node-positive disease. Breast cancer affects one in eight women, and we believe NeuVax will be able to prolong the lives of those who are fortunate enough to catch their disease early."
Galena Biopharma closed at $1.88 on Wednesday.
Latest Ratings for GALE
|Jun 2016||Raymond James||Downgrades||Outperform||Market Perform|
|Mar 2016||Roth Capital||Maintains||Buy|
|Dec 2015||Cantor Fitzgerald||Upgrades||Sell||Hold|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.