UPDATE: Stifel Nicolaus Raises PT to $21 on NewLink Genetics on Accelerated Patient Enrollment

Stifel Nicolaus maintained NewLink Genetics

with a Buy rating and increased the price target from $19.00 to $21.00. Stifel Nicolaus noted, "Management now expects to complete patient enrollment (n=722) in the pivotal P3 IMPRESS trial “this summer” (ahead of prior YE13 guidance) and the first interim analysis will likely be a mid-FY13 event. We believe management's affirmation of our enrollment expectations increases our confidence in both our timelines to data/launch and investigator-initiated enthusiasm (trial is open-label). … [W]e continue to like the optionality here – particularly given the low-expectations and lack of accompanying futility analysis." NewLink Genetics closed at $11.77 on Thursday.