Brean Capital initiated coverage on ASTX with a Buy rating and a price target of $13.00
July 19, 2013 8:31 AM EDT
Brean Capital initiated coverage on Astex Pharmaceuticals (NASDAQ: ASTX) with a Buy rating and a price target of $13.00. Analyst Gene Mack thinks SGI-110 has $1 billion potential.
"ASTX is a drug development company with one commercial-stage compound, Dacogen, for treatment of MDS and AML, from which it receives royalties, and several wholly owned late-stage compounds in Phase 2 development for a variety of cancers and other diseases. The company’s lead development compound, SGI- 110, is a second-generation version of Dacogen that we believe can reach $1.0B in global sales in MDS and AML. We expect Phase 2 data for SGI-110 over the remainder of 2013 with Phase 3 trials to commence soon after," said Mack.
For an analyst ratings summary and ratings history on Astex Pharmaceuticals (NASDAQ: ASTX) click here. For more ratings news on Astex Pharmaceuticals click here.
Shares of Astex Pharmaceuticals closed at $5.57 yesterday, with a 52 week range of $2.11-$6.95.
As a proud seller of 100 Jan. $5 puts for $1.35 (thereby pulling in $13,500 in premium before commissions), thrilled that it's now a lay-up that those puts will expire worthless and I'll keep the whole 13.5K premium collected. Easy money --- the best kind. think it's safe to say that the $5 range will soon be a distant memory and it's certainly the case that we'll won't see sub-$5 anytime soon. congrats to longs. oh, before I forget, please do ignore posts by Bucketlist -- no need to encourage that mo-ron; the guy is clueless and responding to him just keeps his charade going.