BMO Capital Cuts Price Target as Tokai Pharma (TKAI) Stops ARMOR2 Trial Enrollment
- Wall St. falls as earnings from some big names disappoint
- General Motors (GM) Tops Q3 EPS by 28c
- Procter & Gamble (PG) Tops Q1 EPS by 5c
- DuPont (DD) Tops Q3 EPS by 14c; Boosts FY16 EPS Outlook; Says Continuing to Work with Regulators
- Pre-Open Stock Movers 10/25: (SAEX) (CWEI) (SWFT) Higher; (DPRX) (CRBP) (UA) Lower (more...)
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
BMO Capital maintained a Market Perform rating on Tokai Pharmaceuticals (NASDAQ: TKAI), and cut the price target to $1.15 (from $1.70), following the company stops enrollment for the Phase II ARMOR2 expansion trial. Additionally, the Phase II study evaluating galeterone in mCRPC patients who rapidly progress on either enzalutamide or abiraterone will not be initiated.
Analyst Do Kim commented, "We are lowering our TP to $1.15 from $1.70, following 2Q16 actuals and as enrollment for the Phase II ARMOR2 expansion trial is halted. We expect TKAI shares to reflect the cash balance, less the expected burn. Tokai will also not proceed with the Phase II trial evaluating galeterone in mCRPC patients with acquired resistance to enzalutamide or abiraterone."
Shares of Tokai Pharmaceuticals closed at $1.36 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UBS Raises Price Target on Zions Bancorp (ZION) to $29 Following 3Q EPS Beat
- Jefferies Raises Price Target on Rambus (RMBS) Following 3Q Report
- SunTrust Robinson Humphrey Reiterates Buy as TD Ameritrade (AMTD) Announces Scottrade Acquisition
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesBMO Capital
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!