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Biotech Beat: Analysts Bullish on ImmunoCellular Therapeutics Ltd (IMUC) and Valeant Pharmaceuticals Intl Inc (VRX)


Although ImmunoCellular Therapeutics Ltd (NYSEMKT:IMUC) does not have any approved drugs, Roth Capital remains bullish on its pipeline and impending Phase III trials of ICT-107 for brain cancer. Separately, Nomura remains bullish on Valeant Pharmaceuticals Intl Inc (NYSE:VRX) despite recent accusations of fraud and price gauging.

ImmunoCellular Therapeutics Ltd

In light of third quarter earnings and the ICT-107 Phase III trial, Joseph Pantginis of Roth Capital reiterated a Buy rating on ImmunoCellular Therapeutics with a $3 price target, marking an overwhelming 550% potential upside from the stock’s current levels of $0.46.

The analyst notes that the company posted third quarter earnings per share of $0.04, in-line with his estimate. However, all eyes are on the impending ICT-107 Phase III trial, as well as an expected data update on the second trial. ICT-107 is a pipeline immunotherapy drug for brain cancer to be used in combination with radiation and chemotherapy. The impending Phase III study is now fully funded and should begin by the end of 2015 or early 2016. About 400 patients will take part in the study with the primary endpoint being overall survival.

Pantginis is looking forward to November 20, at which point the company will release data from the Phase II trial for ICT-107. The analyst notes that the pipeline therapy...