Jefferies Assumes Oncothyreon (ONTY) at Buy, $4 PT

Jefferies assumes coverage on Oncothyreon (NASDAQ: ONTY) with a Buy rating and a price target of $4.00 (from $5.00).

Analyst Gena Wang commented, "ONTY's lead candidate ONT-380 (HER2 inhibitor) demonstrated initial clinical activity from two Ph1 trials in HER2+ metastatic breast cancer. While competition is high, we see potentially superior activity in brain as encouraging, which could provide differentiated competitive advantage since ~33% of mBC pts eventually developed brain metastasis. We assume coverage on ONTY with a Buy and $4 PT."

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

Shares of Oncothyreon closed at $2.37 yesterday.

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