Cantor Fitzgerald reaffirmed their buy rating on shares of NewLink Genetics Corporation (NASDAQ:NLNK) in a research note issued to investors on Thursday morning. They currently have a $26.00 target price on the biotechnology company’s stock.
“Path Forward in Melanoma. Indoximod is expected to enter a pivotal Phase III trial in combination with both Keytruda and Opdivo, with a planned enrollment of 600 patients. The trial design aims to compare PD-1 monotherapy to combination treatments, with co-primary endpoints of overall survival (OS) and progression free survival (PFS).”,” Cantor Fitzgerald’s analyst commented.
Several other equities research analysts have also recently issued reports on the company. Robert W. Baird raised NewLink Genetics Corporation from a neutral rating to an outperform rating and lifted their target price for the stock from $8.00 to $22.00 in a report on Friday, September 8th. ValuEngine cut NewLink Genetics Corporation from a sell rating to a strong sell rating in a research note on Friday, September 1st. Stifel Nicolaus boosted their price objective on NewLink Genetics Corporation from $14.00 to $29.00 and gave the stock a buy rating in a research note on Monday, September 11th. Zacks Investment Research cut NewLink Genetics Corporation from a hold rating to a sell rating in a research note on Wednesday, July 12th. Finally, Bank of America Corporation initiated coverage on NewLink Genetics Corporation in a research note on Friday, October 13th. They set a buy rating and a $22.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $25.67.
Shares of NewLink Genetics Corporation (NLNK) traded up $0.30 during mid-day trading on Thursday, hitting $8.87. The stock had a trading volume of 1,340,294 shares, compared to its average volume of 1,432,581. NewLink Genetics Corporation has a 1 year low of $5.90 and a 1 year high of $25.17.
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In other NewLink Genetics Corporation news, major shareholder Stine Seed Farm, Inc. bought 780,487 shares of the business’s stock in a transaction dated Friday, October 6th. The shares were purchased at an average price of $10.25 per share, with a total value of $7,999,991.75. Following the completion of the purchase, the insider now owns 7,857,732 shares in the company, valued at approximately $80,541,753. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 13.70% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in NLNK. Candriam Luxembourg S.C.A. boosted its holdings in shares of NewLink Genetics Corporation by 337.3% in the third quarter. Candriam Luxembourg S.C.A. now owns 328,000 shares of the biotechnology company’s stock valued at $3,339,000 after purchasing an additional 253,000 shares during the period. Columbus Circle Investors boosted its holdings in shares of NewLink Genetics Corporation by 72.5% in the second quarter. Columbus Circle Investors now owns 591,765 shares of the biotechnology company’s stock valued at $4,349,000 after purchasing an additional 248,724 shares during the period. Ameriprise Financial Inc. purchased a new stake in shares of NewLink Genetics Corporation in the first quarter valued at approximately $3,453,000. American Century Companies Inc. purchased a new stake in shares of NewLink Genetics Corporation in the third quarter valued at approximately $963,000. Finally, Quantitative Investment Management LLC purchased a new stake in shares of NewLink Genetics Corporation in the second quarter valued at approximately $635,000. 55.09% of the stock is currently owned by hedge funds and other institutional investors.
NewLink Genetics Corporation Company Profile
NewLink Genetics Corporation is a clinical-stage immuno-oncology company focused on discovering, developing and commercializing immunotherapeutic products for the treatment of cancer. The Company’s portfolio includes biologic and small-molecule immunotherapy product candidates for a range of oncology indications.
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