Baird Reiterates an 'Outperform' on Endocyte (ECYT); Doxil Shortage May Present a Real Risk to PROCEED Timelines

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

Baird analyst says, "Remain buyers but also acknowledge a developing risk factor in Johnson&Johnson's (NYSE: JNJ) prolonged Doxil shortage, which could impact enrollment of EC145's pivotal PROCEED trial (PROCEED utilizes Doxil as both a comparator and combination agent in the active arm). Indeed, we believe if Doxil supply is not resolved by YE11, expected PFS data (anticipated mid-2013) could slip measurably. Continue to like the name mainly for EU filing (Q112) and compelling valuation, however."

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

Shares of Endocyte closed at $11.11 yesterday.

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