Galena Reiterated With A Buy At Roth Capital Following Enrollment Completion In Phase IIa Study

In a research note issued earlier today, Roth Capital analyst Joseph Pantginis reiterated coverage with a “Buy” rating on Galena Biopharma, Inc. (GALE), and a price target of $7.00 a share.

“We are impressed by the early completion of enrollment in this study and we believe the results will help to elucidate the relevant patient population for further studies. The study suggests that recurrence is related to trends in disease features and a diminished response to the vaccine. This is notable because it suggests that it may be beneficial to take the vaccine into less aggressive disease. Recall that the ongoing Phase IIa trial is aimed at addressing increasing the peptide dose to alleviate diminished vaccine response and to also evaluate the effect of a booster series. We are also encouraged to see that no patients in the Phase I have relapsed at the 1000 mg dose which is the optimal dose for the Phase II […] We continue to believe the company’s fundamental thesis remains strong, driven by a growing revenue stream from Abstral, a late stage development pipeline and promising earlier stage candidates. We reiterate our Buy and $7 target”, wrote Pantginis.

According to TipRanks, which measures analysts and bloggers success rate based on how their calls perform, analyst Joseph Pantginis, who covers LGND, currently has a one-year average return of -6.5% and a 38% success rate. He is ranked #3027 out of 3104 analysts.

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