Sarepta Therapeutics Inc
Shares of Sarepta Therapeutics Inc (NASDAQ:SRPT) are on the rise today, after the biotech firm received a request from the FDA to provide additional data of eteplirsen’s efficacy in Duchenne Muscular Dystrophy (DMD), despite a negative AdComm, and on the heels of the PDUFA extension.
In reaction, WBB Securities analyst Stephen Brozak reiterated a Strong Buy rating on the stock with a price target of $40, which represents a potential upside of 105% from where the stock is currently trading.
Brozak wrote, “The postponement and request for more data by the FDA follow a checkered recommendation from a meeting of the Peripheral and Central Nervous System Drugs Advisory Committee that reviewed eteplirsen in April. The recommendation was rendered in the face of emotional and dramatic testimony by DMD patients and their parents about positive patient results. With no small irony, it is easy to say that predicting FDA decisions has become less of a science and more of an art. However, we believe the additional requested information is an encouraging sign for SRPT and eteplirsen.”
Bottom line, “We believe SRPT will have a clear path to approval if these additional data are consistent with 24-week (no Western Blot) and 180-week (with Western Blot) results from previous studies.”
According to TipRanks, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Stephen Brozak has a yearly average return of 15% and a 44% success rate. Brozak has a -18% average return when recommending SRPT, and is ranked #576 out of 3990 analysts.
Galena Biopharma Inc
At the annual American Society of Clinical Oncology (ASCO), Galena Biopharma Inc (NASDAQ:GALE) has provided an update on its GALE-301 vaccine program, which is currently being studied in a Phase I/II study for the prevention of recurrent ovarian or endometrial cancers. The results from the Phase I/IIa study demonstrated that GALE-301 is both well tolerated and immunogenic, with a potential clinical benefit to prevent cancer recurrence.
Maxim analyst Jason McCarthy noted, “While the patient number in GALE-301’s Phase I/IIa study is small, the data not only reached a p-value but also demonstrated its potential in prevention of cancer recurrence with > 70% survival at two years.”
McCarthy rates Galena Biopharma stock a Buy, with a $4.00 price target, which represents a potential upside of 96% from where the stock is currently trading.
According to TipRanks, McCarthy has a yearly average return of 10% and a 55% success rate. McCarthy has a 83% average return when recommending GALE, and is ranked #351 out of 3990 analysts.
As of this writing, all the 3 analysts polled by TipRanks (in the past 3 months) rate Galena Biopharma stock a Buy. With a return potential of 121%, the stock’s consensus target price stands at $4.50.
FBR analyst Christopher James reiterated an Outperform rating on shares of CytRx Corporation (NASDAQ:CYTR) with an $8.00 price target, after the cancer drug maker presented several posters from its clinical programs with lead candidate aldoxorubicin in various tumor types at the annual ASCO meeting.
James stated, “At the conference, we had an opportunity to meet with management to review the promising updates and provide three key takeaways from the presentations: (1) Our focus remains on the Phase III readout, which is expected this month; (2) we view these results as incremental positives for the upcoming Phase III readout in STS; and (3) aldoxorubicin has shown evidence of efficacy at relatively low doses and combinability with other anti-cancer agents. Overall, we are encouraged by the updated clinical data and remain focused on the Phase III readout in STS expected this month.”
According to TipRanks, analyst Christopher James has a yearly average return of -5.7% and a 42% success rate. James has a -11.7% average return when recommending CYTR, and is ranked #3643 out of 3990 analysts.
Out of the 4 analysts polled by TipRanks (in the past 3 months), 2 are bullish on Cytrx stock, while 2 remains sidelined. With a return potential of 148%, the stock’s consensus target price stands at $6.25.