In a report released today, Hartaj Singh from Oppenheimer maintained a Buy rating on SELLAS Life Sciences Group Inc (SLS), with a price target of $13. The company’s shares opened today at $1.02, close to its 52-week low of $0.80.
Singh wrote:
“Sellas (SLS) provided a 4Q18 update to investors and filed a Form 10-K on 3/22. Cash balance on 12/31/2018 totaled $5.3 million, providing a cash runway through ~1H19. As SLS reviews its strategic options and settles additional funding, we expect further updates on the ongoing GPS phase 3 AML study (~100 sites prescreened), the phase 1/2a study of GPS in combination with pembrolizumab (basket trial initiated) and NPS + trastuzumab in TNBC (FDA discussions for next steps/expedited approval ongoing) We update our model for 4Q results. For a name with only ~$23M market cap but a rich pipeline of catalysts (mostly mid/late stage), we stay bullish on SLS.”
According to TipRanks.com, Singh is a 4-star analyst with an average return of 3.8% and a 47.3% success rate. Singh covers the Healthcare sector, focusing on stocks such as Strongbridge Biopharma Plc, Catabasis Pharmaceuticals, and Actinium Pharmaceuticals.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for SELLAS Life Sciences Group Inc with a $13 average price target.
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Based on SELLAS Life Sciences Group Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $13.32 million. In comparison, last year the company had a GAAP net loss of $9.96 million.
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SELLAS Life Sciences Group, Inc. operates as a clinical stage biopharmaceutical company, which focuses on the development and commercialization of novel cancer immunotherapeutics for cancer indications. Its product galinpepimut-S, or GPS, is an immunotherapeutic agent licensed from Memorial Sloan Kettering Cancer Center, or MSK, which targets the Wilms tumor 1, or WT1, protein. Its products include galinpepimut-S and nelipepimut-S. The company was founded on April 3, 2006 and is headquartered in New York, NY.
