NewLink Genetics (NASDAQ:NLNK) had its price objective lowered by Bank of America from $6.00 to $5.00 in a report issued on Friday morning. The firm currently has a neutral rating on the biotechnology company’s stock.
NLNK has been the subject of several other reports. Zacks Investment Research raised NewLink Genetics from a hold rating to a buy rating and set a $3.50 price objective for the company in a research note on Saturday, August 4th. Stifel Nicolaus downgraded NewLink Genetics from a buy rating to a hold rating and lowered their price objective for the stock from $8.00 to $4.00 in a research note on Wednesday, August 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $4.92.
NASDAQ:NLNK traded up $0.09 on Friday, hitting $2.21. The stock had a trading volume of 6,005 shares, compared to its average volume of 482,790. The firm has a market cap of $78.89 million, a P/E ratio of -0.94 and a beta of 1.55. NewLink Genetics has a 52 week low of $1.86 and a 52 week high of $10.41.
NewLink Genetics (NASDAQ:NLNK) last announced its quarterly earnings results on Thursday, November 1st. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.22. The business had revenue of $0.12 million for the quarter, compared to analyst estimates of $2.10 million. NewLink Genetics had a negative return on equity of 41.05% and a negative net margin of 253.52%. On average, equities research analysts expect that NewLink Genetics will post -1.72 earnings per share for the current year.
Several institutional investors and hedge funds have recently modified their holdings of NLNK. Wells Fargo & Company MN increased its position in NewLink Genetics by 10.8% in the first quarter. Wells Fargo & Company MN now owns 413,905 shares of the biotechnology company’s stock worth $3,001,000 after buying an additional 40,223 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in NewLink Genetics by 19.5% during the first quarter. Schwab Charles Investment Management Inc. now owns 120,595 shares of the biotechnology company’s stock valued at $875,000 after buying an additional 19,651 shares during the period. JPMorgan Chase & Co. boosted its stake in NewLink Genetics by 6,778.1% during the first quarter. JPMorgan Chase & Co. now owns 493,367 shares of the biotechnology company’s stock valued at $3,577,000 after buying an additional 486,194 shares during the period. Northwest Wealth Management LLC bought a new stake in NewLink Genetics during the second quarter valued at $266,000. Finally, Pennsylvania Trust Co bought a new stake in NewLink Genetics during the second quarter valued at $395,000. 42.26% of the stock is owned by institutional investors.
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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