Zacks Investment Research upgraded shares of NewLink Genetics (NASDAQ:NLNK) from a hold rating to a strong-buy rating in a research report released on Wednesday morning. Zacks Investment Research currently has $2.50 target price on the biotechnology company’s stock.
According to Zacks, “NewLink Genetics Corporation is a biopharmaceutical company which focuses on discovering, developing and commercializing immunotherapeutic products for cancer treatment. Its portfolio also includes biologic and small-molecule immunotherapy products used for the treatment of oncology indications. NewLink Genetics Corporation is headquartered in Ames, Iowa. “
Several other research firms have also recently weighed in on NLNK. Stifel Nicolaus cut shares of NewLink Genetics from a buy rating to a hold rating and lowered their price objective for the company from $8.00 to $4.00 in a research report on Wednesday, August 1st. Bank of America lowered their price objective on shares of NewLink Genetics from $6.00 to $5.00 and set a neutral rating for the company in a research report on Friday, November 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a strong buy rating to the company. NewLink Genetics has a consensus rating of Hold and a consensus price target of $4.75.
NewLink Genetics (NASDAQ:NLNK) last posted its quarterly earnings data on Thursday, November 1st. The biotechnology company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.22. The firm had revenue of $0.12 million during the quarter, compared to analysts’ expectations of $2.10 million. NewLink Genetics had a negative net margin of 253.52% and a negative return on equity of 42.27%. On average, sell-side analysts expect that NewLink Genetics will post -1.48 EPS for the current fiscal year.
Several large investors have recently modified their holdings of the company. BlackRock Inc. grew its position in shares of NewLink Genetics by 0.8% during the 2nd quarter. BlackRock Inc. now owns 2,279,452 shares of the biotechnology company’s stock worth $10,850,000 after buying an additional 18,461 shares during the period. JPMorgan Chase & Co. grew its position in shares of NewLink Genetics by 148.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,156,871 shares of the biotechnology company’s stock worth $2,765,000 after buying an additional 691,651 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of NewLink Genetics by 20.5% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 673,885 shares of the biotechnology company’s stock worth $3,208,000 after buying an additional 114,650 shares during the period. Renaissance Technologies LLC grew its position in shares of NewLink Genetics by 125.8% during the 2nd quarter. Renaissance Technologies LLC now owns 405,100 shares of the biotechnology company’s stock worth $1,928,000 after buying an additional 225,668 shares during the period. Finally, Alambic Investment Management L.P. grew its position in shares of NewLink Genetics by 593.8% during the 2nd quarter. Alambic Investment Management L.P. now owns 366,995 shares of the biotechnology company’s stock worth $1,747,000 after buying an additional 314,095 shares during the period. Institutional investors own 42.26% of the company’s stock.
NewLink Genetics Company Profile
NewLink Genetics Corporation, a late clinical-stage immuno-oncology company, focuses on discovering and developing novel immunotherapeutic products for the treatment of patients with cancer. It is developing NLG2103, a combination of indoximod and standard of care checkpoint inhibitors, which is in Phase II clinical trial for treating patients with advanced melanoma; and Indigo301, a combination of indoximod with a checkpoint inhibitor that is in Phase III clinical trial for treating patients with advanced unresectable or metastatic melanoma, as well as combination of indoximod with other cancer therapeutics for patients with melanoma, pancreatic cancer, pediatric brain tumors, and acute myeloid leukemia.
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