Maxim Maintains Buy On ImmunoCellular Following SNO Data Review
In a research report issued today, Maxim Group analyst Jason Kolbert maintained a Buy rating on ImmunoCellular Therapeutics (NYSE:IMUC) with a $4 price target, which represents a potential upside of 535% from where the stock is currently trading. The report comes after the compay held a conference call following the Society for Neuro-Oncology (SNO) meeting to discuss phase II data presentations from the trial of ICM-107 in glioblastoma multiforme (GBM) and its plans for phase III.
Kolbert noted, “Data from either trial demonstrating efficacy combined with the current phase II data should satisfy requirements for a BLA submission. Key decision factors in the phase III design will be comments from the EMEA, the cost and funding requirements, and the timeframes for the trials. Planning continues, and the company stressed that it would not run an underpowered or poorly designed phase III. We continue to expected the trial to start in mid-2015.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Jason Kolbert has a total average return of 5.2% and a 40.0% success rate. Kolbert has a -20.6% average return when recommending IMUC, and is ranked #692 out of 3377 analysts.