UPDATE: Stifel Initiates Coverage on BIND Therapeutics on Positive Outlook

In a report published Tuesday, Stifel analyst Joel Sendek initiated coverage on BIND Therapeutics BIND with a Buy rating and $20.00 price target. In the report, Stifel noted, “We are initiating coverage on BIND Therapeutics, Inc. (BIND) with a Buy rating on the shares and a $20 target price. BIND-014 sales, along with minor contribution from partnership revenue, drive our 2021 BIND revenue estimate of $256 million and our target price estimate. Although we value BIND mainly on BIND-014, we believe the Accurin technology could continue to generate new pipeline products for the next decade.” BIND Therapeutics closed on Monday at $15.27.