After H.C. Wainwright and Cowen & Co. gave Stemline Therapeutics Inc (NASDAQ: STML) a Buy rating last month, the company received another Buy, this time from Roth Capital. Analyst Jotin Marango maintained a Buy rating on Stemline Therapeutics Inc (NASDAQ: STML) today and set a price target of $30. The company’s shares opened today at $16.05.
Marango commented:
“We asked the same question when first heard the term ‘BPDCN’, and yet now a few years later Stemline is awaiting FDA decision on a BPDCN label. Chronic myelomonocytic leukemia (CMML) has undertones of both MPN and MDS, but is defined by high counts of monoblasts (vs. myeloblast in CML) and splenomegaly in half of the patients. CMML is divided into two subsets with different white counts (CMML-1 with <5% peripheral & <10% marrow; CMML-2 with 5-19% peripheral & 10-19% marrow) and with different prognoses. Frontline treatment is with HMAs (and/or hydroxyurea for debulking). Stem-cell transplant is the only curative intervention, though it is not frequently possible due to age at diagnosis (median 65-75) and comorbidities. Estimated incidence is ~1K, and median survival is 15-20 months at diagnosis and 4-7 months after front-line failure."
According to TipRanks.com, Marango is a 4-star analyst with an average return of 31.8% and a 53.3% success rate. Marango covers the Healthcare sector, focusing on stocks such as Aptevo Therapeutics Inc, Aptose Biosciences, and GlycoMimetics.
Currently, the analyst consensus on Stemline Therapeutics Inc is a Strong Buy with an average price target of $34, representing an 111.8% upside. In a report issued on June 18, H.C. Wainwright also reiterated a Buy rating on the stock with a $38 price target.
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Based on Stemline Therapeutics Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $18.42 million. In comparison, last year the company had a GAAP net loss of $15.46 million.
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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.
