Janney Maintains Buy On Cell Therapeutics Following Completion Of Patient Enrollment


In a research note released today, Janney Capital analyst Kimberly Lee maintained a Buy rating on Cell Therapeutics Inc. (CTIC) with a $4 fair value estimate, following the completion of patient enrolment in CTIC’s PERSIST- 1, a 320-patient, open-label, multi-center Phase III study for pacritinib in patients with primary myelofibrosis without exclusion for low platelet count.

Lee wrote, “We anticipate top-line data from PERSIST-1 by year-end, which is consistent with the company’s expectations. PERSIST-2, the second pivotal study, continues enrollment with top-line data expected in 2H15. Our timeline assumptions for the NDA and MAA filings remain unchanged at 4Q15 and 2016, respectively”.

The analyst continued: “We recommend CTIC shares based on the market expansion potential for PIXUVRI, pacritinib’s safety profile, meaningful market opportunities in lymphoma and myelofibrosis, near-term milestones and attractive valuation”.

According to TipRanks, which measures analysts and bloggers success rate based on how their calls perform, analyst Kimberly Lee currently has a one-year average return of 24.0% and a 80% success rate. Lee is ranked #632 out of 3141 analysts.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts