Baird Starts Endocyte (ECYT) at Outperform, Sees 100% Upside

Baird initiates coverage on Endocyte (NASDAQ: ECYT) with a Outperform rating and $15 price target.

The firm notes, "While biotech IPO investing has been a spotty endeavor recently, we think this name is well positioned to stand out as one that works well both in the near and longer term."

Baird likes the call option on EU approval for EC145, which could come in early 2012. Longer term "chances for EC145 Phase III success coupled with ECYT's diverse pipeline and development platform make for a multi-faceted, well-balanced story."

For more ratings news on Endocyte click here and for the rating history of Endocyte click here.

Shares of Endocyte closed at $7.48 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Raymond James Starts SpyGlass Pharma (SGP) at Outperform
• BofA Securities Resumes American Eagle Outfitters (AEO) at Underperform
• BMO Capital Resumes Snowline Gold Corp (SGD:CN) (SNWGF) at Outperform