Oppenheimer Thinks Neon Therapeutics Inc’s Stock is Going to Recover

Oppenheimer analyst Leah R. Cann maintained a Buy rating on Neon Therapeutics Inc (NTGN) today and set a price target of $20. The company’s shares closed on Tuesday at $6.15, close to its 52-week low of $5.62.

Cann observed:

“We believe the rationale for the NEO-PV-01 NT-003 study is very interesting and could lead to improved responses. There is scientific evidence that CD40 agonists enhance antigen presentation, and preclinical and clinical work have demonstrating that CTLA-4 antagonism enhances immune responses and increases T cell infiltration into the tumor. The timing of this study is as expected. There is no change to our outlook.”

According to TipRanks.com, Cann is a 4-star analyst with an average return of 4.8% and a 44.1% success rate. Cann covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals Inc, Miragen Therapeutics Inc, and CytomX Therapeutics Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Neon Therapeutics Inc with a $20 average price target.

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Based on Neon Therapeutics Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $18.39 million. In comparison, last year the company had a GAAP net loss of $9.6 million.

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Neon Therapeutics, Inc. develops novel therapeutics leveraging neoantigen biology to treat cancer. It offers NEO-PV-01, a personalized neoantigen vaccine that builds upon initial clinical trials.