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Wedbush Sees a Near Double in Endocyte (ECYT)

March 27, 2013 9:51 AM EDT Send to a Friend
Get Alerts ECYT Hot Sheet
Price: $18.65 --0%

Rating Summary:
    10 Buy, 1 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 31 | Down: 9 | New: 29
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Wedbush boosted its price target on Outperform-rated Endocyte (NASDAQ: ECYT) from $16 to $20, or nearly double yesterday's closing price. The firm sees "significant" catalysts ahead.

The firm notes the opportunity for Endocyte's small molecule drug conjugates (SMDC) for the treatment of solid tumors, inflammation and kidney disease is largely being missed by the Street. The opportunity, they say, while in some ways analogous, is potentially of more widespread utility and more valuable than Seattle Genetics ADC platform.

Vintafolide, potentially approved and on the market in the EU by YE:13, may have utility in >1 million patients annually that are diagnosed with folate-over expressing cancers, the analyst notes. Also, platinum resistant ovarian cancer (PROC) remains a significant unmet medical need with 50% reaching this point in the disease, for which few treatment options exist, and with a median OS of <1 year.

Wedbush believes Vintafolide will likely be approved in the EU for PROC by YE:13. Additional catalysts for ECYT include randomized Phase IIB data in NSCLC in H1:14.

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

Shares of Endocyte closed at $10.75 yesterday.




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