Roth Capital Reiterates Buy On ImmunoCellular Following Development Update
In a research report issued today, Roth Capital analyst Joseph Pantginis reiterated a Buy rating on ImmunoCellular Therapeutics (NYSE:IMUC) with a $3 price target, following successful end-of-Phase II meeting with the FDA and guidance for the planned Phase III program for ICT-107.
Pantginis noted, “As the company continues to bring ICT-107 back into the spotlight, we believe visibility is everything and that the FDA feedback should put many investors’ minds at ease, in our view. Importantly, the company reiterated that its updated manufacturing processes are in place and that business development activities continue. ICT-107 partnering discussions are ongoing and the company is also looking at additional immunotherapy technologies which could expand the company’s pipeline and also be potentially complementary with its current products and platform. We are also impressed that the ICT-107 Phase II data follow-up has been accepted for an oral presentation at SNO in November.”
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 35.6% success rate. Pantginis has a -24.0% average return when recommending IMUC, and is ranked #3248 out of 3284 analysts.