Wedbush Securities Sees Dose Escalation Trials Continue Without Toxicity Signals For Endocyte

In a report published Tuesday, Wedbush Securities analyst David M. Nierengarten reiterated an Outperform rating and $12.00 price target on Endocyte, Inc. ECYT. In the report, Wedbush Securities noted, "ECYT reported a Q4:14 EPS of $(0.19), in line with our $(0.20) estimate and above consensus of ($0.25). As expected, cash burn was low, with ECYT ending the quarter well capitalized with $207M in cash and cash equivalents. Management guided to a YE:15 cash balance of $155M." Endocyte closed on Monday at $6.05.