Thomas Yip, equity research analyst at MLV & Co., weighed in today with a favorable report on Threshold Pharmaceuticals, Inc. (NASDAQ:THLD), after the company presented updated results from its Phase I/II trial of evofosfamide combined with bortezomib and low-dose dexamethasone in patients with relapsed/refractory multiple myeloma (MM) at ASCO 2015.
Yip wrote, “We are encouraged that EBorD shows signs of efficacy in a group of heavily pre-treated patients with advanced disease from this exploratory trial, and we think EBorD is ready for further development in MM.” Furthermore, “We expect to see similar safety and efficacy results in the next update for this Phase I/II trial. We consider this small exploratory trial an early success in the MM indication, as EBorD elicited an efficacy signal in a heavily pre-treated population and Threshold has successfully determined the optimal dose of EBorD to advance into larger clinical trials.”
The analyst reiterated a Buy rating on Threshold shares, with a price target of $14.50, which represents a potential upside of 290% from where the stock is currently trading.
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Thomas Yip has a total average return of 6.5% and a 69.2% success rate. Yip has a -9.0% average return when recommending THLD, and is ranked #1634 out of 3610 analysts.