Nabriva Therapeutics AG (NBRV) Receives Buy Rating from HC Wainwright
Nabriva Therapeutics AG (NASDAQ:NBRV)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a research report issued on Thursday.
The analysts wrote, “Updated Results from SITC Confirm IMO-2125 Clinical Benefit; Reiterate Buy IMO-2125 activates innate immune response against tumor. Last week we attended the annual meeting for Society for Immunotherapy of Cancer (SITC) held in National Harbor, Maryland. At the conference, Dr. Haymaker from MD Anderson Cancer Center presented additional results from the ongoing Phase 1/2 clinical study of IMO-2125, a TLR9 agonist from Idera. Recall, IMO-2125 is being investigated as a combinational therapy together with Bristol-Myers Squibb’s (BMY; not rated) Yervoy (ipilimumab) for the treatment of PD-1 refractory melanoma. Previously, it was reported that the combination of IMO-2125 and ipilimumab achieved an overall response rate (ORR) of 44%. The updated results presented at the SITC conference included an additional patient with confirmed response, which improved the ORR from the study to 50% (5 out of 10 patients). Importantly, gene expression analysis in patients’ tumor biopsies, taken 24 hours after IMO-2125 injections, suggests that IMO-2125 upregulates interferon-alpha production, promotes dendritic cells maturation and the inflow of macrophages at the tumor site. Moreover, considering that ipilimumab has not yet been administered at the time of the biopsy, the observed activation of immune system can be fully attributed to IMO-2125, rather than the drug combination. In our view, these results provide additional confidence in the clinical activity of IMO-2125 and potential success of the planned Phase 3 study, which is expected to start in 1Q18.””
Other research analysts have also issued reports about the stock. SunTrust Banks, Inc. lifted their price objective on shares of Nabriva Therapeutics AG from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, September 18th. Leerink Swann reiterated an “outperform” rating and issued a $22.00 price objective (up from $20.00) on shares of Nabriva Therapeutics AG in a research note on Monday, September 18th. Cantor Fitzgerald reiterated a “buy” rating and issued a $16.00 price objective on shares of Nabriva Therapeutics AG in a research note on Monday, September 18th. Wedbush reiterated an “outperform” rating and issued a $21.00 price objective (up from $13.00) on shares of Nabriva Therapeutics AG in a research note on Monday, September 18th. Finally, Zacks Investment Research upgraded shares of Nabriva Therapeutics AG from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $19.03.
Nabriva Therapeutics AG (NBRV) opened at $5.54 on Thursday. Nabriva Therapeutics AG has a one year low of $3.52 and a one year high of $14.10.
TRADEMARK VIOLATION NOTICE: “Nabriva Therapeutics AG (NBRV) Receives Buy Rating from HC Wainwright” was originally published by Watch List News and is the sole property of of Watch List News. If you are reading this piece on another site, it was illegally stolen and reposted in violation of international copyright and trademark law. The legal version of this piece can be viewed at https://www.watchlistnews.com/nabriva-therapeutics-ag-nbrv-receives-buy-rating-from-hc-wainwright/1706676.html.
In other news, major shareholder Vivo Capital Viii, Llc purchased 52,631 shares of the business’s stock in a transaction on Monday, September 18th. The stock was purchased at an average cost of $9.46 per share, with a total value of $497,889.26. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Hbm Healthcare Investments (Ca sold 36,608 shares of the firm’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $8.56, for a total transaction of $313,364.48. The disclosure for this sale can be found here. Over the last three months, insiders acquired 57,219 shares of company stock valued at $535,919. Insiders own 2.75% of the company’s stock.
A number of large investors have recently made changes to their positions in NBRV. Commonwealth Equity Services Inc boosted its holdings in Nabriva Therapeutics AG by 109.7% in the 3rd quarter. Commonwealth Equity Services Inc now owns 26,760 shares of the biotechnology company’s stock valued at $219,000 after purchasing an additional 14,000 shares during the period. Jane Street Group LLC bought a new stake in shares of Nabriva Therapeutics AG during the 3rd quarter worth $293,000. Cubist Systematic Strategies LLC bought a new stake in shares of Nabriva Therapeutics AG during the 3rd quarter worth $348,000. Perceptive Advisors LLC bought a new stake in shares of Nabriva Therapeutics AG during the 3rd quarter worth $431,000. Finally, Royal Bank of Canada lifted its holdings in shares of Nabriva Therapeutics AG by 19.6% during the 2nd quarter. Royal Bank of Canada now owns 52,807 shares of the biotechnology company’s stock worth $553,000 after acquiring an additional 8,650 shares during the last quarter. 47.19% of the stock is owned by hedge funds and other institutional investors.
About Nabriva Therapeutics AG
Nabriva Therapeutics plc is a clinical stage biopharmaceutical company. The Company is engaged in engaged in the research and development of novel anti-infectives to treat serious infections, with a focus on the pleuromutilin class of antibiotics. The Company’s medicinal chemistry has enabled targeted discovery of novel pleuromutilins, including both intravenous and oral formulations of its lead product candidate, lefamulin.
Receive News & Ratings for Nabriva Therapeutics AG Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nabriva Therapeutics AG and related companies with Analyst Ratings Network's FREE daily email newsletter.