Chardan bullish on vintafolide as Endocyte slides

|By:, SA News Editor

Chardan Capital starts Endocyte (ECYT -3.7%) at Buy with a $20 price target on the familiar "vintafolide/ etarfolatide alone are worth around $6/share" thesis.

"We expect ... positive data from the ongoing Phase 3 trial in folate receptor -positive ovarian cancer and in a randomized Phase 2 trial in FR (100%) NSCLC to drive significant upside," analyst Ling Wang says.

Investors have been reluctant to jump in however, with the stock off some 28% since hitting a 52-week high at the beginning of August.

For more, see SA contributor Benjamin Paluch's recent article.