Cantor Remains Positive On Threshold Pharmaceuticals, Inc. Following Meetings With Management
In a research report released this morning, Cantor analyst Daniel Brims reiterated a Buy rating on shares of Threshold Pharmaceuticals, Inc. (NASDAQ:THLD), with a $14 price target, after spending a day with the company’s management.
Brims observed, “Management is continuing to guide for both the Merck KGaA-run pancreatic trial and THLD-run Sarcoma trial to read out around YE:15, with top-line data potentially released simultaneously and full data being presented at scientific meetings. THLD has begun drafting the NDA, and we believe submission will occur by MID:16 assuming positive trial outcomes. We expect evo to receive priority review, with a potential approval and launch around YE:16.”
“We remain confident in the efficacy of evofosfamide (evo) and expect successful top-line data from the two phase 3 top-line readouts expected around YE:15, which we believe are the primary catalysts for THLD,” the analyst concluded.
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 -17.3% and a 24.0% success rate. Brims has a 4.1% average return when recommending THLD, and is ranked #3709 out of 3764 analysts.
All the 5 analysts polled by TipRanks rate Threshold stock a Buy. With a return potential of 237%, the stock’s consensus target price stands at $13.70.