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Maxim Maintains Buy On Tekmira Pharmaceuticals Following 2Q14 Results

In a research note released August 14, Maxim Group analyst Jason Kolbert maintained a Buy rating on Tekmira Pharmaceuticals (TKMR) with a $23 price target, following the company’s second-quarter results. Tekmira ended the quarter with an operational loss of $8.7M and $126M in cash.

Kolbert wrote, “Tekmira delivers a solid quarter and highlighted its potential with recent development partners, such as Monsanto , with substantial milestones ahead that can be realized. We believe the Monsanto deal, Alnylam deal, and even Marqibo with Spectrum have the potential to contribute to the company and offset R&D costs as therapeutic development advances forward. The fact that the company has a modest burn rate with $126 million in cash, for us, translates into reduced risk and lots of potential as clinical data emerges in 2015.”

Furthermore the analyst wrote, “Tekmira reviewed recent events in West Africa, and clearly is being both cautious and responsive to the crisis. Management highlighted the need to stay within the existing regulatory framework for developing TKM-Ebola. Management did state that they currently have clinical supply focused on the requirements for a Phase I trial. Additional product can be manufactured in a timeframe of month(s) depending on how the situation develops.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Jason Kolbert has a total average return of 9.2% and a 54.4% success rate. Kolbert has a 67.8% average return when recommending TKMR, and is ranked #376 out of 3242 analysts.

TKMR Chart

 

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