HCW starts Targovax ASA at buy; PT 19 NOK


HCW starts Targovax ASA at buy; PT 19 NOK

H.C. Wainwright initiated coverage of Oslo-based Targovax ASA (OSE:TRVX) with a “buy” rating and price target of 19 NOK. The stock closed at 5.44 NOK on Aug. 19.

Analyst Joseph Pantginis writes that Targovax’s lead asset, ONCOS-102, is an oncolytic virus with dual activity in both direct killing of tumor cells, and inducing innate and adaptive immune activation. “This one-two punch has correlated with meaningful clinical responses,” he said.

Encouraging Phase 1 data obtained in a variety of hard-to-treat solid tumors prompted Targovax’s decision to focus resources on the oncolytic virus platform, while the cancer vaccine program, although promising, was recently placed on the back burner, he added.

ONCOS-102 is being tested in a Phase 2 study, in combination with chemotherapy targeting patients with unresectable pleural mesothelioma, “chosen as first path to market,” Mr. Pantginis said. Enrollment in the trial has been completed and full data are expected in January 2020.

ONCOS-102 also is in a pilot Phase 1 study, in combination with Keytruda, in patients with advanced or unresectable melanoma refractory to PD-1 blockade, which is expected to produce important immune activation data, he said. An interim analysis is set for the first half of 2020.

Through several collaborations, ONCOS-102 is in two additional Phase 1 trials, in advanced peritoneal malignancies and in patients with castrate resistant prostate cancer.

Mr. Pantginis said the “lead driver for the shares, randomized Phase 2 data in mesothelioma, are expected in January 2020.

https://www.biotuesdays.com/briefs/2019/8/20/hcw-starts-targovax-asa-at-buy-pt-19-nok
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Joe Pantginis
Managing Director Equity Research at H.C. Wainwright & Co.

Dr. Pantginis is a Managing Director of Equity Research at H.C. Wainwright whose research focuses on the healthcare sector. Dr. Pantginis conducted more than seventeen years of healthcare equity research.
Prior to joining H.C. Wainwright, Dr. Pantginis worked as a Senior Research Analyst and Head of Biotechnology Research at ROTH Capital Partners. Dr. Pantginis also held senior positions at Merriman, Canaccord Adams, Commerce Capital Markets, JBHanauer and Ladenburg. Prior to his equity research career, Dr. Pantginis worked at Regeneron Pharmaceuticals, where he founded the Retroviral Core Facility.
Dr. Pantginis’ educational background includes both a Ph.D. and an M.S. in molecular genetics from the Albert Einstein College of Medicine as well as an MBA from Pace University.

https://hcwco.com/services/research/meet-our-analysts/
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Analyst coverage

https://www.targovax.com/en/analyst-coverage/
Redigert 20.08.2019 kl 22:54 Du må logge inn for å svare
focuss
20.08.2019 kl 21:48 2232

Er det omtrent like sikkert at TRVX fremover vil bli en vinner som det er sikkert at PCIB vil bli en taper?
quattro
20.08.2019 kl 22:02 2203

La oss nå ikke kaste 'skitt' på andre gode kandidater - se heller på denne anbefaling og kursmål på 19 nok som et langt etterlengtet positivt innpust i en forferdelig kursmessig reise for selskapet .... vi vet alle at sannhetens time for TRVX kommer i 2020/21
Redigert 20.08.2019 kl 22:03 Du må logge inn for å svare
Panis
20.08.2019 kl 22:12 2173

Enig quattro,
Mange av oss har investert i flere pharma selskaper, og vi ønsker at alle skal lykkes.
Ikke bare ett av de, men at hele Norge og Oslo Cancer Cluster blir satt på kartet innenfor verdens kreftforskning.
focuss
20.08.2019 kl 22:29 2128

Sorry. men å vente 3 år på neste emisjon passer dårlig med min investerings strategi.
Panis
20.08.2019 kl 22:35 2110

Nei, da kan du vel bare selge eller la vær å investere her da, og ikke plage andre som er positive til TRVX?
bel68
20.08.2019 kl 22:43 2093

focuss stakkars har ventet i årevis på Pho ikke annet å vente han blir frustrert .............

En slik interesse fra USA betyr forhåpentligvis at vi har sett bunnen i Targovax.
Men forventer ikke voldsom kursutvikling før det kommer konkrete resultater rundt årsskifte.
Det store spørsmålet er hva som kommer først i 2020 - oppkjøpe eller emisjon?

Jeg sa for 1 år siden at selskapet burde avvikles innen nyttår 2018.

Det skjedde så klart ikke men hva har selskapet gjort i etterkant. Avsluttet TG01, fortsatt ingen proof of concept. Ny emisjon. Barbert aksjekursen. Ingen partneravtaler, ingen positive readouts. Og regelrett bare elendighet i hele år.
kaunis
25.08.2019 kl 13:48 1153

Ja slik er det alltid med de beste, det kreves forståelse for det komplisert som ikke bare er å klikke, og så er balsamen der. Oncos vil bli en SOC om ikke så lenge, så ha tolmodighet i ca 1-2år og gled deg da.

"Avsluttet TG01, fortsatt ingen proof of concept. Ny emisjon. Barbert aksjekursen. Ingen partneravtaler, ingen positive readouts."

Du har fått riktig på 3 av 6 påstander - omtrent samme resultat som en apekatt ville fått.
SomSa
26.08.2019 kl 16:28 702


DNB barberer kursmålet med 33% men jeg finner ikke hans begrunnelse:

The Q2 operating loss was smaller than we expected. In terms of the pipeline, Targovax released attractive data in the quarter from its melanoma trial in CPI refractory patients; treatment with ONCOS-102 resulted in a c33% ORR, which we consider strong given the refractory status of the patients. The mesothelioma trial is also fully recruited and should read-out around year-end according to management. Targovax’s financial situation is fairly tight, but the data promising in our view. We keep our BUY but have lowered our target price to NOK7 (10.5).
kaunis
26.08.2019 kl 22:29 497

Lokal angst, de som ser det fra yttersiden og har god kompetanse sier 19kr.