Oppenheimer Initiates Outperform On Vascular Biogenics, Sets $16 PT

Oppenheimer analyst Yigal Nochomovitz initiated an Outperform rating on Vascular Biogenics (NASDAQ:VBLT) with a $16 price target, which implies an upside of 144% from current levels.

Nochomovitz wrote, “VBL is an Israeli biotechnology company with a pipeline in immune- inflammatory diseases and oncology. We see VB-201 (an oxidized phospholipid with anti-inflammatory properties) as the key value driver with the potential for peak worldwide sales of ~$360M as another novel oral option in psoriasis, where Celgene’s Otezla recently launched. We believe the current Phase 2b trial testing VB-201 in moderate-to-severe psoriasis (data 1Q15) should yield efficacy on PASI scores that are competitive vs. Otezla’s. VB-201 is also being tested in ulcerative colitis; however, with initial data pending (1Q15 Ph. 2 readout), we do not currently value this indication.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Yigal Nochomovitz has a total average return of 9.4% and a 66.7% success rate. Nochomovitz is ranked #1919 out of 3347 analysts.

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