UPDATE: Aegis Capital Reiterates on Stemline Therapeutics Ahead of ASH Annual Meeting

In a report published Wednesday, Aegis Capital analyst Raghuram Selvaraju reiterated a Buy rating and $70.00 price target on Stemline Therapeutics STML. In the report, Aegis Capital noted, “We would guide investors to focus on the upcoming American Society for Hematology (ASH) Annual Meeting, which is slated to take place December 7-10 in New Orleans, LA. Stemline is slated to present additional clinical data on its lead drug candidate, SL-401, in blastic plasmacytoid dendritic cell neoplasm (BPDCN). Among the most fundamental data points is the potential disclosure for the first time of clinical response in a patient who has undergone retreatment with the drug. SL-401 is hypothesized to gain in efficacy with administration of additional cycles. Like Ontak (denileukin diftitox), SL-401 could also show an improved safety profile upon further patient exposure. In anticipation of favorable data at the ASH meeting and near-term initiation of pivotal clinical development of SL-401 in the BPDCN indication, we reiterate our Buy rating and 12-month price target of $70.00 per share on Stemline.” Stemline Therapeutics closed on Tuesday at $23.29.