Baird Reiterates an 'Outperform' on Endocyte (ECYT); Remains Top Small-Cap Pick

Baird reiterates an 'Outperform' on Endocyte (NASDAQ: ECYT) price target of $17.00.

Baird analyst says, "Taking this opportunity to update our model for ECYT's Q211 earnings report and recent $67M follow-on. With now-limited near-term financing risk, we look forward to several meaningful catalysts in early-2012; including EC145 EU accelerated approval filing, final PRECEDENT Phase II OS data, and the advancement of EC145's NSCLC program with a randomized 200-patient Phase II trial set to initiate Q112. Remain buyers."

"Q211 numbers. EPS was ($0.35), versus consensus ($0.28), RWB ($0.29). Difference due mostly to higher R&D related to PROCEED enrollment."

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

Shares of Endocyte closed at $10.48 yesterday.

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