Baird Reiterates a 'Neutral' on Endocyte (ECYT); Remaining on Sidelines Until Better EC145 Efficacy

Baird reiterates a 'Neutral' on Endocyte (NASDAQ: ECYT) price target of $5.00.

Analyst, Christopher Raymond, said, "No change in outlook after today's announcement that the company will import offshore Doxil to resume its previously suspended Phase III PROCEED trial in platinum-resistant ovarian cancer (PROC). We view this news as moderately positive, but supply allows for just 50-70 patients and our central concern - EC145's efficacy - remains. Until better evidence of the drug's activity in EC20++ patients (the new focus), we prefer our position on the sidelines."

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

Shares of Endocyte closed at $3.49 yesterday.

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