Galena’s Fundamental Thesis Remains Strong, Says Roth Capital
Roth Capital’s healthcare analyst Joseph Pantginis reiterated a Buy rating on Galena Biopharma (NASDAQ:GALE) with an $8.00 price target, after the company provided its outlook for 2015 including revenue guidance and expected clinical catalysts.
Pantginis noted, “GALE is facing a busy schedule in 2015 with multiple catalysts including topline data readouts, a study initiation and launch of Zuplenz.” He added, “We remain cautious with regards to 2015 revenue and estimate it at $13.5 million, which is below guidance, yet still represents more than 50% increase over our 2014 estimate and is in accordance of the company’s estimate of 50% revenue growth in 2015.”
Bottom line, “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.”
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 1.9% and a 47.7% success rate. Pantginis has a -40.7% average return when recommending GALE, and is ranked #1141 out of 3434 analysts.