AVEO Pharmaceuticals (Nasdaq:AVEO), ZIOPHARM Oncology (NASDAQ:ZIOP), Exelixis (Nasdaq:EXEL), Allos Therapeutics(NASDAQ:ALTH), Synta Pharmaceuticals (NASDAQ:SNTA) and Immunogen (Nasdaq:IMGN) were commented on by Canaccord Genuity, as they took a look at the Biotech small cap sector.
Canaccord's take on the companies:
"AVEO Pharmaceuticals (BUY) Investment recommendation: We maintain our BUY rating going into top-line results from the Phase III TIVO-1 trial evaluating tivozanib for treatment of renal cell carcinoma."
"ZIOPHARM Oncology (BUY) Investment recommendation: On the potential of a diversified clinical oncology pipeline, we remain long-term buyers of ZIOP shares.
"Synta Pharmaceuticals (HOLD) Investment recommendation: We maintain our HOLD rating based on lack of meaningful clinical data supporting the potential of STA-9090 for treatment of oncologic indications.
"Immunogen (Buy-rated) Investment recommendation: Although approaching our DCF-based $10 price target, we continue to remain positively inclined on IMGN shares given perceived potential of Roche’s trastuzumab-DM1 (T-DM1) in metastatic breast cancer (MBC).
"Exelixis (HOLD-rated) Investment recommendation: On our view that share value more than fully reflects the risk/reward for potential of XL184 in metastatic prostate cancer, we maintain our HOLD rating.
"Allos Therapeutics (HOLD) Investment recommendation: We maintain our HOLD rating on ALTH given our view that shares adequately reflect potential of Folotyn in the peripheral T cell lymphoma (PTCL) treatment market.
Aveo closed Tuesday at $14.61, down $0.06, or 0.41 percent. Ziopharm closed at $4.71, down $0.12, or 2.48 percent. Exelixis closed up at $8.85, gaining $0.07, or 0.80 percent. Allos closed at $4.62, up $0.01, or 0.22 percent. Synta closed at $6.37, up $0.04, or 0.63 percent. Immunogen ended the session at $9.70, down $0.02, or 0.21 percent.
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