MLV Reiterates Buy on OXiGENE Inc Following 4Q:14 Update
In a research report published Wednesday, MLV analyst Thomas Yip reiterated a Buy rating on OXiGENE Inc (NASDAQ:OXGN) with a $6.50 price target, after the company reported fourth-quarter and 2014 results and hosted a conference call yesterday to report updates of its lead candidates. OXiGENE shares are currently trading at $1.64, down $0.06 or 3.53 percent.
Yip noted, “OXiGENE expects to finalize the designs of a Phase III pivotal trial of fosbretabulin for the treatment of recurrent ovarian cancer in 2Q:15, and plans to begin the pivotal trial in early 2016 under a Special Protocol Assessment (SPA) from the FDA. We think an SPA defining median progression-free survival (mPFS) as an approvable endpoint could help de-risk fosbretabulin since it has already demonstrated an impressive mPFS improvement in the Phase II GOG186I trial.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Thomas Yip has a total average return of 8.7% and a 60.0% success rate. Yip is ranked #1915 out of 3533 analysts.