NewLink Genetics (NASDAQ:NLNK) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Wednesday. The brokerage presently has a $2.50 price target on the biotechnology company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 16.82% from the company’s current price.
According to Zacks, “NewLink Genetics Corporation is a biopharmaceutical company which focuses on discovering, developing and commercializing immunotherapeutic products for cancer treatment. Its portfolio also includes biologic and small-molecule immunotherapy products used for the treatment of oncology indications. NewLink Genetics Corporation is headquartered in Ames, Iowa. “
Several other equities analysts have also recently weighed in on the stock. Stifel Nicolaus cut shares of NewLink Genetics from a “buy” rating to a “hold” rating and cut their target price for the company from $8.00 to $4.00 in a research note on Wednesday, August 1st. Bank of America cut their target price on shares of NewLink Genetics from $6.00 to $5.00 and set a “neutral” rating for the company in a research note on Friday, November 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $4.75.
NLNK opened at $2.14 on Wednesday. The firm has a market cap of $78.89 million, a P/E ratio of -0.93 and a beta of 1.55. NewLink Genetics has a fifty-two week low of $1.86 and a fifty-two week high of $10.41.
NewLink Genetics (NASDAQ:NLNK) last posted its earnings results on Thursday, November 1st. The biotechnology company reported ($0.20) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.42) by $0.22. The company had revenue of $0.12 million during the quarter, compared to analysts’ expectations of $2.10 million. NewLink Genetics had a negative net margin of 253.52% and a negative return on equity of 41.05%. As a group, equities analysts predict that NewLink Genetics will post -1.72 EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the business. Quantitative Systematic Strategies LLC bought a new position in NewLink Genetics during the second quarter valued at $133,000. Russell Investments Group Ltd. bought a new stake in shares of NewLink Genetics in the 3rd quarter worth about $219,000. Northwest Wealth Management LLC bought a new stake in shares of NewLink Genetics in the 2nd quarter worth about $266,000. Pennsylvania Trust Co lifted its holdings in shares of NewLink Genetics by 35.8% in the 3rd quarter. Pennsylvania Trust Co now owns 112,719 shares of the biotechnology company’s stock worth $269,000 after acquiring an additional 29,719 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in shares of NewLink Genetics by 11.9% in the 3rd quarter. Acadian Asset Management LLC now owns 289,092 shares of the biotechnology company’s stock worth $691,000 after acquiring an additional 30,634 shares during the last quarter. Institutional investors and hedge funds own 42.26% of the company’s stock.
About NewLink Genetics
NewLink Genetics Corporation, a late clinical-stage immuno-oncology company, focuses on discovering and developing novel immunotherapeutic products for the treatment of patients with cancer. It is developing NLG2103, a combination of indoximod and standard of care checkpoint inhibitors, which is in Phase II clinical trial for treating patients with advanced melanoma; and Indigo301, a combination of indoximod with a checkpoint inhibitor that is in Phase III clinical trial for treating patients with advanced unresectable or metastatic melanoma, as well as combination of indoximod with other cancer therapeutics for patients with melanoma, pancreatic cancer, pediatric brain tumors, and acute myeloid leukemia.
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