Prima BioMed Shares Rally Following New Outperform Rating, $6 Target At FBR
9:09 am ET December 3, 2015 (Benzinga) Print
Shares of Prima BioMed Ltd (ADR) (NASDAQ: PNMD) are up 61 percent year-to-date, but still significantly below their 52-week high of $6.48.
FBR’s Vernon T. Bernardino initiated coverage of the company with an Outperform rating and a price target of $6.
The company has made significant advancement in enhancing its clinical stage product pipeline, Bernardiono noted.
Prima BioMed, which had only one active clinical program in 2014, has expanded and currently has three novel product candidates under active clinical development. Potential products from the company include IMP321, IMP731, and GSK 2831781, with the latter two rapidly under advancement by partners committed to their full evaluation.
“We believe the current valuation of Prima BioMed is disconnected from our estimation of the significant value PBMD has created in advancing its clinical-stage product pipeline,” analyst Vernon Bernardino mentioned.
Bernardino believes that the initiation of AIPAC, a planned Phase IIb combination study with paclitaxel and IMP321, will act as a significant catalyst for the stock. He added that positive AIPAC results could lead to full marketing authorization for IMP321 in the EU.
“[We] believe Prima’s next-generation approach in targeting checkpoint pathways is likely to generate significant partnership interest in the next 12 to 18 months,” the FBR report stated, while adding that the market for checkpoint modulators is witnessing continued growth.
Bernardino believes that IMP321 has blockbuster potential in breast cancer alone and expects it to gain approval in metastatic breast cancer as its first indication in 2020.
Latest Ratings for PBMD DateFirmActionFromTo
Dec 2015FBR CapitalInitiates Coverage onOutperform Oct 2015H.C. WainwrightInitiates Coverage onBuy
My thanks to both of you
that was cool !
Been watching it for a while now.
sounds like it's altready been discounted now and maybe a good entry point!
Any how worth a shot.for me.
Good to know I have another news source lol
Any other thoughts would be appreciated
Down 16% and no news?
There must be something out there.
but I can't find it anywhere.
If there is anyone who can shed some light ?
It really would be appreciated
I'd rather take a shot at MAYBE losing a little (stop oreder)
then missing the boat.
This baby is just docking right now ,giving everyone a chnce to get on board
LET THE GAMES BEGIN !!!
He is still right a lot more than wrong.
His track record is still really good.
Educated guesses based on facts.
I'm a beliver,did very well following him,
for this opportunity...Thought I missed the boat.In now at 96 and very content
This will go right back up immediately.
When Cramer said last week that this has a lot of room to run..It reacted immediately from 90 to 96 next day.
This is a great opportunity IMHO
I agree this is "the one"
The holy grail of stocks
I am so fortunate I bought more at 108
Originally in at 88
No more trading
Putting this baby away till the beginning of the calendar quarter
Just going to sit back and enjoy the show
Sentiment: Strong Buy
He said buy.... stating unusual option activity on the buy side
Been following his "unusual option activity" touts ....good record..correct that excellent record
I already am a holder bought more
I feel the pain..can u get me on my feet again?
+.40 What da
What's happening ..
Long time holder..getting killed
Just a little pinprick ,I think it's working ....Goodnight