Aegis hikes price target on Stemline citing SL-401 potential

Aegis boosts its price target on Stemline Therapeutics (STML -5.7%) to $70 (from $40). That's good for upside of around 141% from current levels.

Like Wedbush's David Nierengarten, analyst Ram Selvaraju likes SL-401 and thinks the drug will get marketing authorization for both blastic plasmacytoid dendritic cell neoplasm and AML, ultimately resulting in peak sales of $800M to $3B.

"STML is currently completing the final stages of a larger-scale manufacturing run for SL-401, which should provide sufficient cGMP-grade material to conduct additional clinical studies in BPDCN, AML and other niche hematological malignancies such as hairy cell leukemia," Selvaraju says.

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