Roth Capital Maintains Buy On Peregrine Following Presentation Of Bavituximab Phase II Study
Roth Capital analyst Joseph Pantginis maintained a Buy rating on Peregrine Pharma (NASDAQ:PPHM) with a $5 price target, as the company presented new data from 6 patients in its Phase II study of bavituximab in hepatocellular carcinoma patients.
Pantginis noted, “While this is a small study, we believe it highlights the potential efficacy of targeting PS in this cancer setting. The OS data indicate a potential benefit for having CD8+ T cell infiltrating or being present in the tumor. Additionally, the data show the potential benefits from combination of bavituximab with an anti- PD-1 antibody. The increase in PD-1 levels in the three patients who had higher CD8+ levels, not only points out to increased infiltration of these T cells (CD8+ T cells that express PD-1) but also to the potential benefit of combining anti- PD-1 therapy with bavituximab. These immunological data and mechanistic data also are resonating well with ongoing partnering discussions according to management.”
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 -6.7% and a 41.6% success rate. Pantginis has a -27.6% average return when recommending PPHM, and is ranked #3323 out of 3365 analysts.