Immune Design (IMDZ): Multiple Readouts Expected in 2017 - Jefferies
- Record-setting rally pushes on as S&P ends week up 3 percent
- Trump's Cohn Pick Most Bullish Sign Yet for Banks - Cowen
- Unusual 11 Mid-Day Movers: (IDXG) (INVN) (EBS) Higher; (SCON) (DTEA) (DLTH) Lower (more...)
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
Jefferies analyst, Brian Abrahams, reiterated his Buy rating on shares of Immune Design (NASDAQ: IMDZ) and believes that IMDZ's multiple is underappreciated. He believes "IO programs continue to progress and evolve, with an increasing focus on the neoantigen platform and multiple data readouts in 2017. We continue to believe their platform should enable differentiated opportunities to augment long-term immune recognition and suppression of cancers, and that patience will be rewarded as data potentially matures next year."
IMDZ confirmed that following a favorable DSMB safety review, the ongoing ph.II combo study of CMB305+atezolizumab in soft tissue sarcomas is progressing to part 2 of the 80-pt randomized study, with the first update now planned for ASCO 2Q17 once a more robust dataset accumulates. Single-agent CMB305 data as well as LV305 data presented earlier this year showed signals of positive disease control in sarcoma, in our opinion, relative to historicals, and IMDZ is considering accelerated regulatory strategies including both singleagent and checkpoint combo regimens. Data from the G100+Keytruda fNHL study is also expected at ASCO 2017.
That said, he is cutting his price target to $17.00 (from $20.00) on model/timeline updates.
Shares of Immune Design closed at $7.65 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Jefferies Raises Price Target on Broadcom Ltd. (AVGO) to $210 Following 4Q
- Jefferies Raises Price Target on Casey's General Stores (CASY) Following 2Q Earnings Report
- Broadcom (AVGO) PT Raised to $215 at Oppenheimer
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesJefferies & Co
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!