- Shares of Galena Biopharma (GALE +9%) jump after Oppenheimer initiates the oncology-focused biotech at Outperform with a PT of $6.
- The firm's target implies an upside of 63% from yesterday's close.
- Analyst Boris Peaker thinks shares could reach $6 in the next 12-18 months. NeuVax's reported Phase I and II data is "encouraging," as is the ~$5B global commercial opportunity for the drug.
- Peaker places a $6 valuation on NeuVax alone and sees Abstral's "good traction in the initial stages of launch" as added value, given that "it is a competitive fentanyl formulation and will find a clear niche in the market."