Griffin Pounds the Table on ZIOPHARM Oncology Inc. (ZIOP)
Griffin analyst Keith Markey was out pounding the table on ZIOPHARM Oncology Inc. (NASDAQ:ZIOP), reiterating a Buy rating and price target of $21.00, which implies an upside of 292% from current levels.
Markey wrote, “The Company is preparing to initiate studies in the next few months with two immune-therapies. One is a CAR T cell targeting the differentiation antigen CD33 that has the potential to target cancer progenitor cells. The market will likely extend well beyond acute myeloid leukemia to include most myeloid malignancies. The other program will test off-the-shelf primary natural killer (NK) cells. This therapy has the potential to extend the lives of medically fragile patients for whom the CAR T cell may not be appropriate.”
Furthermore, “Preparations are under way to advance IL-12 into a pivotal clinical trial. The ongoing study evaluating the therapy has shown that the lowest dose tested has a survival benefit for patients with recurrent glioblastoma. The third cohort of patients is receiving an intermediate dose of activator ligand and so, the study should conclude soon.”
The analyst concluded, “News from the clinic and the start-up of more trials, including a pivotal study of IL-12 for glioblastoma, should stimulate interest in ZIOP shares.”
As usual, we recommend taking analyst notes with a grain of salt. According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Keith Markey has a yearly average return of -34.6% and a 7% success rate. Markey has a -37.9% average return when recommending ZIOP, and is ranked #3993 out of 4110 analysts.
Out of the 5 analysts polled by TipRanks, 4 rate Ziopharm stock a Hold, while 1 rates the stock a Buy. With a return potential of 102.5%, the stock’s consensus target price stands at $10.83.
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