Vascular Biogenics price target raised at Deutsche Bank

Deutsche Bank on Thursday raised their price target for Vascular Biogenics Ltd.

from $12 to $19. VBL Therapeutics is a small cap biotech company that has two platform technologies: gene therapy for oncology and inflammation & immunology for autoimmune diseases. Vascular Biogenics received positive phase 2 results for their drug VB-111. Analysts at Deutsche Bank wrote, “We think VB-111 has demonstrated clinically meaningful survival benefit over standard of care Avastin and we think investors will begin to assign more credit as the asset moves into Ph3 in 1H15.” The company also has a drug VB-201 that is still in the early stages of testing for Psoriasis, and there will be 2 readouts in the first quarter of 2015. Deutsche Bank arrived at their price target by increasing the probability of success of VB-111 treating rGBM (a type of brain cancer) to 75%. The firm maintained their Buy rating for Vascular Biogenics. Vascular Biogenics closed Wednesday at $13.11.