UPDATE: H.C. Wainwright & Co. Initiates Coverage on Oncothyreon with Buy Rating, $4 PT on Significant Upside

In a report published Tuesday, H.C. Wainwright & Co. analyst Reni Benjamin initiated coverage on Oncothyreon ONTY with a Buy rating and $4.00 price target. In the report, H.C. Wainwright & Co. noted, “We are initiating coverage of Oncothyreon Inc. with a Buy rating and a 12-month target price of $4, based on a risk-adjusted revenues and earnings per share multiples valuation methodology. Oncothyreon's biotechnology franchise is comprised of diverse set of therapeutics including ONT-380, a potent and highly specific tyrosine kinase inhibitor targeting HER2, as well as ONT-10, an immunotherapy vaccine targeting MUC1. Additionally, the company's recent acquisition of Alpine Biosciences brings a novel drug-delivery platform in-house, which we believe could be utilized to generate multiple therapeutic candidates in a wide variety of indications, including orphan diseases. Given the company's burgeoning pipeline, ability to secure multiple partnerships and strong cash position of approximately $91.2 MM (pro forma), which we expect to last till 2H16, we believe Oncothyreon represents an undervalued player with significant upside for the long-term investor.” Oncothyreon closed on Monday at $1.73.
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Posted In: Analyst ColorInitiationAnalyst RatingsH.C. Wainwright & Co.Reni Benjamin
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