Wells Fargo Downgrades GTx, Inc. (GTXI) to Market Perform; Lack of Near-Term Catalyst Keep Shares Range Bound
More News related to GTXI
- GTx Announces Corporate Presentation at Lazard Capital Markets Annual Healthcare Conference
- GTx (GTXI) Posts Q3 Loss of 35c, In-Line with Estimates
- GTx, Inc. Reports Third Quarter 2009 Corporate Results
- Trading Radar for 11/09: Dish Network (DISH), Rockwell (ROK), Priceline.com (PCLN), MBIA (MBI), Ticketmaster (TKTM) Report
- GTx, Inc. Announces Third Quarter 2009 Corporate Results Conference Call and Webcast
More News related to MRK
- Merck Wins Summary Judgment in Second Federal Bellwether Case Involving FOSAMAX(R) (alendronate sodium)
- Merck (MRK) Dismissed from All Travis County VIOXX Claims
- Merck Wins Summary Judgment in Texas Attorney General's Lawsuit Involving VIOXX(R)
- Notable Midday ETF Movers 11/20: XLV, EWJ Higher; XHB, XLE, SMH Lower
- Merck Receives CHMP Positive Opinion for New Fertility Treatment, ELONVA(R)
More News related to Downgrades
- Fox-Pitt Initiates Coverage on Community Bank System (CBU) with an 'In-Line' Rating
- Keefe, Bruyette & Woods initiates coverage on Apartment REITs: AEC, AIV, CPT, EQR, ESS, HME, PPS and UDR
- Cantor Fitzgerald Initiates Coverage on Airvana (AIRV) with a Hold; Leading RNC Provider, But Several Risks
- Bank of America Resumes Coverage on Auxilium Pharmaceuticals (AUXL) with a Buy
- Roth Capital Initiates Coverage on KIT Digital (KITD) with a Buy
Wells Fargo downgrades GTx, Inc. (Nasdaq: GTXI) from Outperform to Market Perform. Valuation range slashed to $4-$6 from $18-$22.
Wells analyst says, "In a not-so-unexpected outcome, GTx announced that the FDA requested additional clinical data to support the approval of Acapodene 80 mg in the treatment of side effects associated with androgen deprivation therapy. We have removed Acapodene revenue in both the U.S. and Europe from our model. This has resulted in our 2009 EPS estimate decreasing by $0.03 and our 2010 estimate decreasing from $0.87 to a loss of $0.76. In addition we are lowering our valuation range from $18-22 based on an eventual near-term approval to a range of $4-6. We expect shares to remain range-bound until a clear regulatory path for Ostarine, partnered with Merck (NYSE: MRK), has emerged and late-stage clinical data for Ostarine is approaching...We expect a lack of near-term catalysts and the need to raise capital to keep shares range bound."
To see more analyst ratings on GTXI Click Here.
Related Categories
DowngradesStocks Mentioned
+0.00Sign 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!
