Roth Capital Maintains Buy on Galena Biopharma; Sees 325% Upside
Roth Capital analyst Joseph Pantginis maintained a Buy rating on Galena Biopharma (NASDAQ:GALE) with an $8.00 price target, after the company reported its FY2014 financial results and provided a corporate update.
Pantginis noted, “GALE reported its FY2014 results, posting EPS of ($0.31) compared to our estimate of ($0.37) and consensus of ($0.35). Revenues for the year were $9.32 million compared to our estimate of $8.5 million and a consensus of $8.7 million. We believe that 2015 and 2016 represent an important transional period where investor focus will be balanced between Abstral/Zuplenz revenue and pipeline data catalysts.”
Furthermore, “We continue to believe the company’s fundamental thesis remains strong, driven by a growing revenue stream from Abstral, a late stage development pipeline and promising earlier stage candidates.”
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 18.9% and a 60.7% success rate. Pantginis has a -18.1% average return when recommending GALE, and is ranked #29 out of 3505 analysts.