Oppenheimer Thinks Cellectis SA’s Stock is Going to Recover


Oppenheimer analyst Hartaj Singh maintained a Buy rating on Cellectis SA (CLLS) yesterday and set a price target of $44. The company’s shares closed on Friday at $21.08, close to its 52-week low of $20.15.

Singh commented:

“Cellectis (CLLS) provided a business update to investors on 11/13 (it does not host a 3Q18 call). The company’s cash burn rate was within our expectations (see model inside), but with CLLS starting to report in USD in 3Q17, we update our numbers and P&L accordingly. CLLS continues to manage its cash reserves prudently, potentially increasing 2018E cash burn minimally over 2017, while having another product in the clinic in UCART22 (IND 05/18). However, dose-escalation clinical data for the UCART123 AML and BPDCN phase 1b/2 trials ongoing will now be presented toward YE19, creating some investor disappointment. We update our catalyst readout expectations accordingly and look forward to an increasingly important 2019 for clinical data readouts. We stay bullish.”

According to TipRanks.com, Singh is a 3-star analyst with an average return of 0.8% and a 36.9% success rate. Singh covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, Syndax Pharmaceuticals Inc, and Strongbridge Biopharma Plc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Cellectis SA with a $44 average price target.

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Based on Cellectis SA’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $22.84 million. In comparison, last year the company had a GAAP net loss of $28 million.

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Cellectis SA is a biopharmaceutical company, which engages in the research and development of genome engineering technology. The company operates through the following business segments: Therapeutics and Plants.

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