Market Overview

UPDATE: Wedbush Upgrades Oncothyreon on Statistically Significant Overall Survival Benefit

Related ONTY
Oncothyreon Presented Novel Checkpoint Kinase 1 Inhibitors at AACR Meeting
13D Filing From Biotechnology Value Fund On Oncothyreon Reveals 19.8% Stake

In a report published on Friday, Wedbush analyst Gregory Wade upgraded Oncothyreon (NASDAQ: ONTY) from Neutral to Outperform and raised the price target from $2.00 to $5.00.

In the report, Wedbush noted, "Merck KGaA(Merck Serono) reported new analysis of the Phase III data from the completed L-BLP25 (STIMUVAX) non-small cell lung cancer trial showing a strong treatment effect in the pre specified subgroup (n=806) of patients who received concurrent chemotherapy and radiation with median OS improving to 30.8 months from 20.6 months (HR 0.78; 95% CI 0.64-0.95, p=0.016). Based upon these results in a pre specified sub-group that represents today's standard of care, we believe that Merck KgA may be successful in negotiating a path to approval for L-BLP25 with the existing and anticipated new data from ongoing clinical trials. Merck expects to provide an update on their discussion with regulators in 2013."

Oncothyreon currently trades at $1.98.

Latest Ratings for ONTY

Mar 2015JefferiesInitiates Coverage onBuy
Oct 2014H.C. WainwrightInitiates Coverage onBuy
Mar 2014Canaccord GenuityDowngradesBuyHold

View More Analyst Ratings for ONTY
View the Latest Analyst Ratings

Posted-In: Gregory Wade WedbushAnalyst Color Upgrades Analyst Ratings


Related Articles (ONTY)

View Comments and Join the Discussion!