Roth Capital Maintained Buy On ImmunoCellular As Pipeline Expands
In a research report issued yesterday, Roth Capital analyst Joseph Pantginis reiterated a Buy rating on ImmunoCellular Therapeutics (OTCBB:IMUC) with a $3 price target, following the news that the company has licensed from the California Institute of Technology (Caltech) the exclusive rights to a novel technology to develop antigen specific killer T cells.
Pantginis noted, “We believe this new initiative by IMUC into a new immunotherapy modality is a promising one as it expands its profile and capabilities to use the immune system to attach the tumor. The main advantage of the new licensed technology over other engineered T cell approaches such as chimeric antigen receptor (CAR) and T cell receptor (TCR) technologies is the duration of their effects. CAR and TCR technologies are currently limited by the limited immune responses they elicit. Since this new technology uses stem cells, it has the potential to have a lasting immune activation as the pool of stem cells will supplement the depletion in the differentiated engineered T cells. Additionally, with this new T cell-based approach, IMUC could potentially combine their approaches. i.e., use of its dendritic cell technology that activates the immune system with antigen-specific T cells that target and destroy tumor cells. This sits in line with the company’s stated goals of introducing new immunotherapy technologies that can expand and complement its current platform. We now look forward to updated survival data from the ICT-107 Phase II at SNO in November as well as the start of the Phase III following positive FDA feedback.”
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 -7.7% and a 33.8% success rate. Pantginis has a -18.4% average return when recommending IMUC, and is ranked #3284 out of 3304 analysts.