ImmunoCellular Therapeutics Ltd (IMUC) Bullish Stance Reiterated at Roth Capital Following FY14 Results
Roth Capital’s healthcare analyst Joseph Pantginis weighed in today with a few insights on ImmunoCellular Therapeutics Ltd (NYSE MKT:IMUC), after the company reported full-year 2014 results, posting EPS of ($0.16) compared to Pantginis’ estimate of ($0.17) and consensus of ($0.15).
The analyst reiterated a Buy rating on the stock with a $3 price target, which represents a potential upside of 436% from where the stock is currently trading.
Pantginis noted, “We believe this year represents a turning point for IMUC with the expected Phase III study start with ICT-107 in newly diagnosed glioblastoma patients. IMUC also expects to have data from the Phase I study of ICT-121 in recurrent glioblastoma in 2016 as well as advance its in-licensed Stem-to-T-cell program to the clinic. We believe that as the company starts achieving these milestones, there will be renewed interest and focus in the ICT-140 asset for ovarian cancer which the company had put on hold until it finds either sufficient funds or a suitable partner to advance it into Phase II. We believe that visibility and renewed interest in the company should rise with initiation of the ICT-107 Phase III.”
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 18.2% and a 58.6% success rate. Pantginis has a -36.2% average return when recommending IMUC, and is ranked #31 out of 3511 analysts.