NextCure Inc. (NXTC) PT Lowered to $14 at Needham & Company

Needham & Company analyst Chad Messer lowered the price target on NextCure Inc. (NASDAQ: NXTC) to $14.00 (from $30.00) while maintaining a Buy rating.

The analyst commented, "NextCure is currently enrolling patients in its Phase II study of NC318 in Siglec-15 (S15) positive advanced solid tumors. We look for additional clinical and biomarker data updates at the upcoming SITC meeting, next weekend. In addition, preliminary safety and immune modulation data for NC410 in advanced tumor are also expected at SITC. NextCure ended 3Q:21 with $235M, enough cash to fund the company into 2H:23. We believe shares are at a compelling value given they trade below cash despite significant progress with multiple novel cancer assets."

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