Stifel Cuts Price target on Argos Therapeutics (ARGS) Following 4Q15 Results

Stifel maintained a Buy rating on Argos Therapeutics (NASDAQ: ARGS), and cut the price target to $10.00 (from $16.00), following the company's 4Q earnings report. ARGS reported an EPS loss of ($0.84), and a cash position of $7.2M.

Analyst Thomas Shrader commented, "Argos reported 4Q15 numbers which included a loss of $0.84 per share and a cash position of $7.2 million. This cash position does not reflect the new financing announced in March – $20 million in capital secured with the potential for an additional $40 million essentially guaranteed by success at the two next futility looks for AGS-003 ($30 million at 50% of events and $10 million at 75% of events). Argos projects the new financing will provide a cash runway through 2Q17, which is when the company anticipates having final data from its pivotal phase 3 ADAPT trial of AGS-003 in mRCC patients."

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

Shares of Argos Therapeutics closed at $6.79 yesterday.

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