Two Notable Analyst Calls For Thursday, June 28th
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Those must have been some investor meetings for Selecta Biosciences (SELB). As we mentioned this morning, this beaten down small cap has seen a few new analyst calls since they took place earlier this week. Here is another from who reiterates their Buy rating and Street high $40 price target on the firm this afternoon. Here is their take on the company's prospects in the months ahead.
“We attended investor meetings in Selecta management, and believe 5-dose combination data expected in 3Q18 will be a major positive event for shares. Importantly, Selecta is administering the 4th of 5 combination doses for SVP- rapamycin + pegsiticase, without safety issues, and we would not expect any for the fifth dose. Selecta will present data from multiple cohorts 3Q18, including the 0.15 mg/kg SVP-rapamycin + 0.20 mg/kg pegsiticase dose, and we expect the company to indicate a preferred Phase 3 dose following presentation of the data. Selecta will announce the medical meeting for presentation on its 2Q18 conference call August 8.”
Array Biopharma (ARRY) also enjoying some analyst 'shout outs' this afternoon. Yesterday the FDA approved the combo treatment of encorafenib and and its drug candidate binimetinib for patients with advanced melanoma associated with a BRAF mutation. The stock has seen some 'buy the rumor, sell the news' trading action since the FDA decision after the shares ran up some 30% into the PDUFA date. That has brought out some positive analyst commentary. Stifel Nicolaus reissues their Buy rating this afternoon and Piper Jaffray does the same while raising its price target from $21 to $25 now that uncertainty around approval has been put to bed.
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