Compugen's (CGEN) COM701 Could Make R&D Day A Catalyst - FBR
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FBR Capital analyst, Vernon Bernadino, reiterated his Outperform rating on shares of Compugen (NASDAQ: CGEN) as COM701 emerges shifts from prediction to pipeline. CGEN-15029, the lead program identified by Compugen’s in silico predictive infrastructure platform technology, has approached a major milestone with the company’s plans to file an Investigational New Drug (IND) application in 2017 for COM701.
Compugen made a late-breaking abstract presentation at the annual meeting of the Society for Immunotherapy of Cancer (SITC) where CGEN-15029 was revealed as the internal designation for PVRIG, a novel immune checkpoint. The analyst, expects CGEN to discuss COM701 and the CGEN-15029 program in greater detail and further outline its clinical strategy during presentations at the upcoming R&D day in New York City on December 7, 2016.
No change to the price target of $14.
Shares of Compugen closed at $6.05 yesterday.
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