Cantor Reiterates Buy on Endocyte, Inc. Following Vintafolide Clinical Update
In a research report published today, Cantor analyst Daniel Brims reiterated a Buy rating on shares of Endocyte, Inc. (NASDAQ:ECYT) with a price target of $21, after the company presented updated data from vintafolide’s Phase II TARGET trial at the World Conference on Lung Cancer. The analyst believes that vintafolide has demonstrated proof-of-concept for the small molecule drug conjugate platform, and potential can be realized with the second-generation drug, EC1456, due to apparent greater safety and more potent payload.
Brims noted, “We believe these data demonstrate ECYT’s platform is efficacious in the treatment of specific cancer subpopulations, and while we do not expect ECYT to continue vintafolide’s development, the trial will guide the design of trials with second generation drugs currently in development.”
“Dose escalation of EC1169 in prostate cancer is also ongoing, and we believe even without an expansion study, a preliminary efficacy signal would be evident from the dose escalation phase, due to the typical high levels of PSMA in prostate cancer,” the analyst added.
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Daniel Brims has a total average return of -0.2% and a 37.5% success rate. Brims has a -16.9% average return when recommending ECYT, and is ranked #2563 out of 3747 analysts.
Out of the 5 analysts polled by TipRanks, 4 rate Endocyte stock a Buy, while 1 rates the stock a Hold. With a return potential of 216%, the stock’s consensus target price stands at $16.