Needham & Company Maintained Buy on Medgenics (MDGN) Following Announced Development Program

Needham & Company maintained a Buy rating and $12.00 price target on Medgenics (NYSE: MDGN) following the company's announced second genomic medicine development program. The company will leverage its relationship with CHOP and enroll patients from its Center for Pediatric Inflammatory Bowel Disease, the world's largest center.

Analyst Chad Messer commented, "Medgenics announced a second genomic medicine development program in pediatric onset inflammatory bowel disease (IBD). The company is testing an anti-LIGHT antibody originally developed by Kyowa Hakko Kirin (KHK) in a potentially rapid developmental pathway and is again leveraging its collaboration with Children's Hospital of Philadelphia (CHOP) to study genomic driven diseases. A phase II/III trial of NFC-1 in patients with mGluR+ ADHD will start enrolling shortly; we continue to look for data readout in 4Q:16. A Phase I/II trial in patients with 22q11.2 is running slighly behind but data is still expected in 2H."

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

Shares of Medgenics closed at $6.03 yesterday.

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