NewLink Genetics weakness creates buying opportunity, says Cantor Cantor reports that NewLink's stock has been pressured since the announcement of the continuation of the IMPRESS trial of its pancreatic cancer drug to the next review point. The firm expected this to occur but notes that the timing of the continuation has raised concerns about survival rates and the possibility that the control arm is performing better than expected. Cantor thinks it's too early to be concerned about these issues, and raised its price target on the shares to $34 from $30 while keeping a Buy rating on the stock.
NewLink Genetics price target raised to $62 from $44 at Cantor Cantor increased its price target on NewLink, citing positive developments at the company's Investor Day, including an estimated median OS assumption for the IMPRESS trial, new clinical programs and potential data this year from the company's indoximod and IDO/TDO programs. The firm thinks the company sits in a virtual "sweet spot" of oncology drug development and reiterates a Buy rating.