Roth Capital analyst Jotin Marango maintained a Buy rating on Stemline Therapeutics Inc (STML) today and set a price target of $33. The company’s shares opened today at $11.71, close to its 52-week low of $11.18.
Marango commented:
“We look forward to the CMML update at ASH in two weeks, followed by clarity on a pivotal path in early 2019. As we approach Elzonris’ PDUFA in BPDCN on February 21 (we anticipate earlier approval), we believe that the ultra-orphan CMML could be the next BPDCN, and could efficiently at least double the value proposition of Elzonris by label extension within two years, all else equal. CMML as the new BPDCN. Based on the presentation at EHA in June and this ASH abstract with a data cut from July, the ongoing Phase 1/2 study of Elzonris in rel/ref CMML has shown spleen size reductions in 100% (8/8) patients with baseline splenomegaly and 2 bone marrow responses (BMCRs). In addition, 43% (6/14) of evaluable patients had a treatment duration of 6 months or longer.”
According to TipRanks.com, Marango is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -9.8% and a 27.0% success rate. Marango covers the Healthcare sector, focusing on stocks such as KalVista Pharmaceuticals Inc, Cyclacel Pharmaceuticals, and Actinium Pharmaceuticals.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Stemline Therapeutics Inc with a $35.50 average price target, a 203.2% upside from current levels. In a report issued on November 8, Cowen & Co. also reiterated a Buy rating on the stock.
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The company has a one-year high of $20.55 and a one-year low of $11.18. Currently, Stemline Therapeutics Inc has an average volume of 166K.
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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.
