Zacks Investment Research upgraded shares of NewLink Genetics (NASDAQ:NLNK) from a hold rating to a strong-buy rating in a report issued on Wednesday morning. The brokerage currently has $2.50 target price on the biotechnology company’s stock.
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. “
A number of other equities analysts also recently commented on the stock. Stifel Nicolaus downgraded shares of NewLink Genetics from a buy rating to a hold rating and reduced their price objective for the stock from $8.00 to $4.00 in a report on Wednesday, August 1st. Bank of America reduced their price objective on shares of NewLink Genetics from $6.00 to $5.00 and set a neutral rating for the company in a report 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. The company presently has an average rating of Hold and an average target price of $4.75.
NewLink Genetics stock traded down $0.07 during mid-day trading on Wednesday, reaching $2.08. The company had a trading volume of 279,235 shares, compared to its average volume of 502,403. NewLink Genetics has a 52 week low of $1.86 and a 52 week high of $10.41. The company has a market cap of $80.40 million, a PE ratio of -0.90 and a beta of 1.55.
NewLink Genetics (NASDAQ:NLNK) last issued its quarterly earnings results on Thursday, November 1st. The biotechnology company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.22. The firm had revenue of $0.12 million during the quarter, compared to the consensus estimate of $2.10 million. NewLink Genetics had a negative net margin of 253.52% and a negative return on equity of 42.27%. As a group, analysts forecast that NewLink Genetics will post -1.48 earnings per share for the current year.
Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in shares of NewLink Genetics by 0.8% during the 2nd quarter. BlackRock Inc. now owns 2,279,452 shares of the biotechnology company’s stock worth $10,850,000 after acquiring an additional 18,461 shares during the period. JPMorgan Chase & Co. lifted its holdings in NewLink Genetics by 148.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,156,871 shares of the biotechnology company’s stock valued at $2,765,000 after purchasing an additional 691,651 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in NewLink Genetics by 20.5% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 673,885 shares of the biotechnology company’s stock valued at $3,208,000 after purchasing an additional 114,650 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in NewLink Genetics by 125.8% during the 2nd quarter. Renaissance Technologies LLC now owns 405,100 shares of the biotechnology company’s stock valued at $1,928,000 after purchasing an additional 225,668 shares during the last quarter. Finally, Alambic Investment Management L.P. lifted its holdings in NewLink Genetics by 593.8% during the 2nd quarter. Alambic Investment Management L.P. now owns 366,995 shares of the biotechnology company’s stock valued at $1,747,000 after purchasing an additional 314,095 shares during the last quarter. 42.26% of the stock is owned by institutional investors.
NewLink Genetics Company Profile
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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