Wells Fargo analyst Jim Birchenough maintained an Underperform rating on shares of ZIOPHARM Oncology Inc. (NASDAQ:ZIOP), with a valuation range of $5.00 to $8.00, after the company released interim phase 1 data for its IL12 gene therapy product Ad-RTS-hIL12 in patients with relapsed/refractory glioblastoma multiforme (GBM) in an abstract release ahead of the American Society of Clinical Oncology (ASCO) annual meeting.
Birchenough noted, “With only 6-11 patients of data, we believe that survival rates at 6 months are difficult to interpret and could be driven by the actual surgical intervention or subject to patient selection bias, particularly given that patients had to be able to tolerate craniotomy. In our discussion with management they acknowledged limitations of small patient numbers and potential for selection bias, but felt that initial data are encouraging relative to historical control data suggesting 5.2 month median survival in a similar salvage population. We would highlight alternative historical data for a IL13/pseudomonas exotoxin suggesting more than 12 months median overall survival (OS) in recurrent GBM.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Jim Birchenough has a yearly average return of 21.2% and a 45.8% success rate. Birchenough has a -24.1% average return when recommending ZIOP, and is ranked #71 out of 3929 analysts.Out of the 5 analysts polled by TipRanks, 1 rate Ziopharm Oncology Inc stock a Buy, 3 rate the stock a Hold and 1 recommends to Sell. With a return potential of 87%, the stock’s consensus target price stands at $12.67.