NewLink Genetics Emerges As Biotech's Newest Immuno-Oncology Takeover Target
Shares of cancer drug developer NewLink Genetics climbed more than 8 percent at one point Thursday after the stock was upgraded in anticipation of positive data from upcoming product trials.
SunTrust Robinson Humphrey analyst Peter Lawson upgraded NewLink Shares to buy from hold and raised his price target to $30 from $12 per share. The stock closed Thursday priced around $23 per share.
Lawson said NewLink is "well positioned" as a potential takeover target, with its shares up more than 100 percent over the past 3 months.
SunTrust Robinson Humphrey analyst Peter Lawson upgraded NewLink Shares to buy from hold and raised his price target to $30 from $12 per share. The stock closed Thursday priced around $23 per share.
Lawson said NewLink is "well positioned" as a potential takeover target, with its shares up more than 100 percent over the past 3 months.