Company Update (NASDAQ:GALE): Galena Biopharma Inc Announces Publication of Two Abstracts at the 2015 American Society of Clinical Oncology Annual Meeting

Galena Biopharma Inc (NASDAQ:GALE), a biopharmaceutical company developing and commercializing innovative, targeted oncology therapeutics that address major medical needs across the full spectrum of cancer care, announced two abstract publications at the American Society of Clinical Oncology (ASCO) 2015 Annual Meeting.

“The two abstracts published by ASCO provide meaningful advancements for both of our cancer immunotherapy programs, NeuVax and GALE-301,” said Mark W. Schwartz, Ph.D., President and Chief Executive Officer. “The use of Leica’s Bond Oracle HER2 IHC system ensures we have enrolled the specified HER2 1+/2+ patients for our Phase 3 NeuVax™ PRESENT trial and moves us further down the path of providing targeted, personalized medicine for these women. Meanwhile, the published preliminary data from our GALE-301 program is quite promising as it shows significant reduction of recurrences with our vaccine. We expect to present more mature data at a scientific conference this Fall, and we are currently evaluating the next steps to potentially advance GALE-301 into a randomized late-stage trial to prevent recurrence in ovarian and endometrial cancers.” (Original Source)

Shares of Galena Biopharma closed yesterday at $1.42 . GALE has a 1-year high of $3.58 and a 1-year low of $1.28. The stock’s 50-day moving average is $1.38 and its 200-day moving average is $1.59.

On the ratings front, Galena Biopharma has been the subject of a number of recent research reports. In a report issued on May 22, Roth Capital analyst Joseph Pantginis reiterated a Buy rating on GALE, with a price target of $8, which implies an upside of 463.4% from current levels. Separately, on March 30, Maxim Group’s Jason Kolbert maintained a Buy rating on the stock and has a price target of $7.

According to, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Joseph Pantginis and Jason Kolbert have a total average return of 7.0% and 1.8% respectively. Pantginis has a success rate of 48.9% and is ranked #394 out of 3607 analysts, while Kolbert has a success rate of 44.1% and is ranked #1401.

The street is mostly Bullish on GALE stock. Out of 6 analysts who cover the stock, 5 suggest a Buy rating and one recommend to Sell the stock. The 12-month average price target assigned to the stock is $2.00, which implies an upside of 40.8% from current levels.

Galena Biopharma Inc, is abiopharmaceutical company focused on developing and commercializing targeted oncology therapeutics that address medical needs across the full spectrum of cancer care.

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