Needham & Company Starts Galena Biopharma (GALE) at Buy

March 25, 2013 8:16 AM EDT
Get Alerts GALE Hot Sheet
Price: $1.75 -2.23%

Rating Summary:
    6 Buy, 2 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 23 | Down: 34 | New: 34
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Needham & Company initiates coverage on Galena Biopharma (NASDAQ: GALE) with a Buy. PT $3.50.

Analyst Chad Messer comments, "Galena is developing NeuVax, a targeted vaccine for breast cancer. NeuVax has already demonstrated increased survival over placebo when given as an adjuvant to standard-of-care. Galena is now enrolling the 700-patient pivotal PRESENT study which will report interim data in 4Q13 or 1Q14. We believe adjuvant vaccine therapy will ultimately become standard of care for many cancer types, and we view NeuVax as one of the leading new product candidates for this revolutionary treatment modality. Galena also recently acquired an approved product for breakthrough cancer pain, giving the company near-term revenue potential and a commercial presence in oncology."

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

Shares of Galena Biopharma closed at $1.93 yesterday.

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