UPDATE: Stifel Initiates Coverage on Argos Therapeutics on Positive Outlook
In a report published Tuesday, Stifel analyst Joel Sendek initiated coverage on Argos Therapeutics (NASDAQ: 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.
Latest Ratings for ARGS
|Feb 2015||MLV & Co.||Initiates Coverage on||Buy|
|Mar 2014||JMP Securities||Maintains||Market Outperform|
|Mar 2014||Stifel Nicolaus||Initiates Coverage on||Buy|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.