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. The brokerage currently has $2.50 price target 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. “
NLNK has been the subject of several other research reports. Bank of America dropped their price objective 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. Stifel Nicolaus downgraded shares of NewLink Genetics from a buy rating to a hold rating and dropped their price objective for the company from $8.00 to $4.00 in a research note on Wednesday, August 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a strong buy rating to the company’s stock. NewLink Genetics presently has a consensus rating of Hold and an average target price of $4.75.
NewLink Genetics (NASDAQ:NLNK) last issued its quarterly earnings data on Thursday, November 1st. The biotechnology company reported ($0.20) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.42) by $0.22. The business 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, equities analysts predict that NewLink Genetics will post -1.48 earnings per share for the current year.
A number of large investors have recently modified their holdings of the stock. BlackRock Inc. lifted its stake in NewLink Genetics by 0.8% in the 2nd quarter. BlackRock Inc. now owns 2,279,452 shares of the biotechnology company’s stock valued at $10,850,000 after purchasing an additional 18,461 shares during the last quarter. Quantitative Systematic Strategies LLC acquired a new position in NewLink Genetics in the 2nd quarter valued at approximately $133,000. Pennsylvania Trust Co increased its position in NewLink Genetics by 35.8% in the 3rd quarter. Pennsylvania Trust Co now owns 112,719 shares of the biotechnology company’s stock valued at $269,000 after acquiring an additional 29,719 shares during the period. Acadian Asset Management LLC increased its position in NewLink Genetics by 11.9% in the 3rd quarter. Acadian Asset Management LLC now owns 289,092 shares of the biotechnology company’s stock valued at $691,000 after acquiring an additional 30,634 shares during the period. Finally, Northwest Wealth Management LLC acquired a new position in NewLink Genetics in the 2nd quarter valued at approximately $266,000. 42.26% of the stock is owned by institutional investors and hedge funds.
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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