In a report released today, Jotin Marango from Roth Capital maintained a Buy rating on Stemline Therapeutics Inc (STML), with a price target of $33. The company’s shares closed on Friday at $10.99, close to its 52-week low of $10.
Marango said:
“We like today’s update from the Phase 1/2 study of Elzonris in CMML. Earlier this year after EHA, we had pointed to spleen reduction as a key indicator of clinical benefit, and supportive of eventual approvability. Today’s update reinforced this point further by showing us a patient bridged to transplant, which we view as a big deal.”
According to TipRanks.com, Marango has 0 stars on 0-5 star ranking scale with an average return of -9.4% and a 23.1% success rate. Marango covers the Healthcare sector, focusing on stocks such as KalVista Pharmaceuticals Inc, Cyclacel Pharmaceuticals, and Actinium Pharmaceuticals.
Currently, the analyst consensus on Stemline Therapeutics Inc is a Strong Buy with an average price target of $30.33, which is a 176.0% upside from current levels. In a report issued on November 26, Piper Jaffray also initiated coverage with a Buy rating on the stock with a $20 price target.
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Based on Stemline Therapeutics Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $21.04 million. In comparison, last year the company had a GAAP net loss of $16.06 million.
Based on the recent corporate insider activity of 26 insiders, corporate insider sentiment is negative on the stock.
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Stemline Therapeutics, Inc. is a clinical stage biopharmaceutical company, which engages in the discovery, acquisition, development, and commercialization of novel therapeutics for oncology indications of unmet medical need. Its clinical stage product candidates include SL-401, SL-801, and SL-701.
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