UPDATE: Stifel Initiates Coverage on Argos Therapeutics on Positive Outlook

In a report published Tuesday, Stifel analyst Joel Sendek initiated coverage on Argos Therapeutics ARGS with a Buy rating and $16.00 price target. In the report, Stifel noted, “We are initiating coverage of Argos Therapeutics, Inc with a Buy rating and a $16 price target. We base our price target on our expectation for positive overall survival data in 1H16 leading to 2017 approval and ultimately $653M in 2021 worldwide sales in renal cell carcinoma (RCC). "We see the Phase II results of AGS-003 as encouraging as it implies both a survival advantage for AGS-003 as well as biomarker data that validates the underlying approach of their immune-cell based therapies. While the Phase II results from RCC were uncontrolled, the 30.2 month overall survival is more than double the 14.7 month historical overall survival in a similar patient population.” Argos Therapeutics closed on Monday at $11.00.