UPDATE: Stifel Reiterates On NewLink Genetics On Good Risk/Reward

In a report published Friday, Stifel analyst Stephen Willey reiterated a Buy rating on

, and raised the price target from $51.00 to $55.00. In the report, Stifel noted, “After recently-signing one of the most economically-significant P1 oncology transactions in recent memory, investor attention has re-focused to the second P3 IMPRESS interim analysis – the results of which management now expects to communicate in 1Q15. While we've acknowledged longer-term visibility into the development/monetization of the Ebola vaccine remains limited, we believe the recent Janssen/Bavarian Nordic transaction suggests investors shouldn't ignore the optionality here – particularly given NewLink appears to be furthest ahead in the race to achieve both P1 safety/immunogenicity data and million-dose manufacturing scale. Volatility should remain high into the IMPRESS second interim analysis – but we continue to like the risk/reward here. Target increases to $55 (previously $51) on inclusion of IDO collaborative revenue.” NewLink Genetics closed on Thursday at $34.69.