NewLink Genetics Corporation (NLNK) Price Target Raised to $29.00

NewLink Genetics Corporation (NASDAQ:NLNK) had its price objective increased by Stifel Nicolaus from $25.00 to $29.00 in a research note issued to investors on Friday, The Fly reports. The brokerage currently has a buy rating on the biotechnology company’s stock.

Several other brokerages have also issued reports on NLNK. Cantor Fitzgerald reaffirmed a buy rating and issued a $26.00 target price on shares of NewLink Genetics Corporation in a research note on Friday, September 8th. ValuEngine lowered NewLink Genetics Corporation from a hold rating to a sell rating in a research note on Wednesday, September 13th. Jefferies Group LLC raised NewLink Genetics Corporation from a hold rating to a buy rating and upped their target price for the stock from $7.00 to $26.00 in a research note on Friday, September 8th. Robert W. Baird raised NewLink Genetics Corporation from a neutral rating to an outperform rating and upped their target price for the stock from $8.00 to $22.00 in a research note on Friday, September 8th. Finally, Bank of America Corporation assumed coverage on NewLink Genetics Corporation in a research note on Friday, October 13th. They issued a buy rating and a $22.00 target price for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $25.67.

Shares of NewLink Genetics Corporation (NASDAQ NLNK) traded up $0.10 on Friday, reaching $8.97. The company’s stock had a trading volume of 1,012,603 shares, compared to its average volume of 1,380,385. NewLink Genetics Corporation has a 1-year low of $5.90 and a 1-year high of $25.17.

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In related news, major shareholder Stine Seed Farm, Inc. acquired 780,487 shares of the company’s stock in a transaction dated Friday, October 6th. The stock was 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 acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 13.70% of the company’s stock.

Several large investors have recently added to or reduced their stakes in NLNK. Bank of New York Mellon Corp boosted its stake in shares of NewLink Genetics Corporation by 59.6% during the first quarter. Bank of New York Mellon Corp now owns 202,540 shares of the biotechnology company’s stock valued at $4,881,000 after purchasing an additional 75,610 shares during the period. UBS Asset Management Americas Inc. purchased a new stake in shares of NewLink Genetics Corporation during the first quarter valued at approximately $297,000. Ameriprise Financial Inc. purchased a new stake in shares of NewLink Genetics Corporation during the first quarter valued at approximately $3,453,000. Parametric Portfolio Associates LLC purchased a new stake in shares of NewLink Genetics Corporation during the first quarter valued at approximately $555,000. Finally, Prudential Financial Inc. purchased a new stake in shares of NewLink Genetics Corporation during the first quarter valued at approximately $443,000. 55.30% of the stock is owned by hedge funds and other institutional investors.

About NewLink Genetics Corporation

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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