Jefferies Cuts Price Target on GTx, Inc. (GTXI) to $7 Following Enobosarm Trial Results

Jefferies maintained a Hold rating on GTX Inc. (NASDAQ: GTXI), and cut the price target to $7.00 (from $10.00), following the company's announced topline results in PII ER+/AR+ breast cancer trial for Enobosarm. Of the total patients with post-tx scans, the CBR was 47% (9/19) & the ORR was 11% (2/19). Enobosarm was safe & well-tolerated with the majority of events Gr 1-2. Topline data for the 18 mg dose cohort is expected in early '17, & data for the full study in mid-'17. GTXI is contemplating investigating enobosarm in a combo therapy or in earlier lines.

Analyst Hugo Ong commented, "GTXI announced topline results for the PII ER+/AR+ breast cancer trial investigating enobosarm in the 9 mg cohort, showing 2 PRs & 7 SDs for a CBR of 47% (9/19). Enobosarm is thus showing signs of clinical activity, but it is still unclear if it can translate to a benefit in PFS. Durability will be key, & we may gain clarity when data is presented, potentially at AACR. We maintain Hold & adjust PT to $7 (v. $1 prev) which follows a recent reverse stock split."

For an analyst ratings summary and ratings history on GTX Inc. click here. For more ratings news on GTX Inc. click here.

Shares of GTX Inc. closed at $6.90 yesterday.

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