Leerink Affirms Aduro Biotech (ADRO) at 'Outperform'; Says PT Doesn't Include CRS-207 Revenue in Pancreatic Cancer

October 24, 2016 9:35 AM EDT
Get Alerts ADRO Hot Sheet
Price: $11.80 --0%

Rating Summary:
    5 Buy, 1 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 10 | Down: 16 | New: 54
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Leerink affirms Aduro Biotech (Nasdaq: ADRO) at Outperform with a price target of $14 after Aduro announced that the FDA placed a partial clinical hold on LADD trials.

The firm commented ahead of today's conference call, ...we note that our current $14/shr price target assumes no revenue from the company's CRS-207 program in pancreatic cancer. It does include a contribution from probability-weighted sales and milestones of approximately ~$4.50/shr in our valuation from CRS-207 in mesothelioma (~$1.75/shr) as well as milestones and revenue from LADD-based partnership with JNJ (~$2.75/shr), combined. The remainder of our valuation is comprised of ~$5/shr from the STING platform and ~$4.50 in cash. We also note that our forecasts assume no contribution from the recently acquired Bionovion antibody platform, where the first targeted agent from the B-select antibody program, anti-April for multiple myeloma, will advance into clinical development in 2017.

For an analyst ratings summary and ratings history on Aduro Biotech click here. For more ratings news on Aduro Biotech click here.

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