Roth Capital Reiterates Buy On ImmunoCellular Following Presentation Of Updated Phase 2 ICT-107 Data
Roth Capital analyst Joseph Pantginis reiterated a Buy rating on ImmunoCellular Therapeutics (NYSE:IMUC) with a $3 price target, as the company presented updated Phase II ICT-107 data in a oral presentation at the SNO conference.
Pantginis said, “We point out that the company has already received critical feedback and support for moving to Phase III by the FDA and three national European regulators. The company also expects to hear back from the EMA shortly. The start of the Phase III is targeted for 2015. Recall that key outcomes from the FDA meeting are: 1) targeting of only HLAA2 patients and 2) stratifying MGMT status within one study or two separate trials is acceptable. In the event of two separate studies, the FDA stated that either study would be sufficient for BLA filing (with the Phase II data). Of note, ICT-107 is the only therapy which has shown a clinical benefit in unmethylated MGMT status patients. This is a very important result as these patients will be at higher risk of being refractory to SOC treatment and require other secondline therapies.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Joseph Pantginis has a total average return of -5.1% and a 38.9% success rate. Pantginis has a -27.5% average return when recommending IMUC, and is ranked #3319 out of 3376 analysts.