UPDATE: Piper Jaffray Initiates Oncothyreon at Underweight on Pipeline Risk
Piper Jaffray initiated coverage on Oncothyreon (NASDAQ: ONTY) with an Underweight rating and a $1.00 price target.
Piper Jaffray commented, "Following Stimuvax's implosion, PI3K-inhibitor PX-866 remains as the lead candidate. While PX-866 has limited intriguing but early data, we see meaningful levels of programmatic risk given its legacy, mechanism, and well-heeled competition in the PI3K space. We view PX-866's pan-PI3K activity and irreversibility as possibly having efficacy and safety implications. Proof of concept PIIa studies should read out this year in colon & lung (early 2Q), brain & prostate (end 2Q), and head/neck (late 2H), all of which we expect to “require interpretation”.
Oncothyreon closed at $2.27 on Thursday.
Latest Ratings for ONTY
|Mar 2015||Jefferies||Initiates Coverage on||Buy|
|Oct 2014||Wainwright||Initiates Coverage on||Buy|
|Mar 2014||Canaccord Genuity||Downgrades||Buy||Hold|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.