Cantor Fitzgerald Starts Threshold Pharmaceuticals (THLD) at Buy
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Cantor Fitzgerald initiated coverage on Threshold Pharmaceuticals (NASDAQ: THLD) with a Buy rating and a price target of $14.00.
Analyst Daniel Brims said, "We are initiating coverage of Threshold with a BUY rating and $14 target price based on TH-302’s expected peak revenues of $2B in 2025. Threshold, in collaboration with Merck KGaA, has initiated two phase 3 trials to support approval in both pancreatic cancer and soft tissue sarcoma (STS), which we expect to read out in 1Q:16 and 2H:15, respectively. We forecast commercial launch of TH-302 in 2016. We believe TH-302 is a pipeline in a single drug, and Threshold has additional trials underway in NSCLC, multiple myeloma, and an investigator-sponsored trial in GBM, which we currently do not include in our valuation but which we believe could add additional upside."
Shares of Threshold Pharmaceuticals closed at $3.96 yesterday.
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