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Analysts Positive on New Data From Vascular Biogenics Ltd (VBLT)

By Christine Brown 

In the past month, shares of Vascular Biogenics Ltd (NASDAQ:VBLT) have surged by over 50%. Analysts Joseph Pantginis and Gbola Amusa weighed in yesterday after the company announced positive data for VB-111; the company’s lead product candidate aimed to treat solid tumors.

Yesterday, Roth Capital’s Joseph Pantginis reiterated a Buy rating on the stock with a price target of $13, down from the previous target of $22. The analyst commented, “Full Phase II data for the VB-111 study in recurrent glioblastoma were presented at [the European Society for Medical Oncology].” Pantginis continued, “An [objective response rate] of 29% was seen, including two CRs in this intractable patient population.”

Joseph Pantginis has rated VBLT five times since May with a 60% success rate recommending the stock and a +31.4% average return per rating when measured over a one-year horizon and no benchmark.

Separately, Chardan Capital’s Gbola Amusa maintained his Buy rating for the stock with a price target of $25. Amusa noted several positives from the data. He explained, “The result newly eliminates the risk that statistical significance seen at the interim look is lost.” Amusa went on to explain, “A continuous exposure cohort patient with a complete response is still alive at 22 months” and that “Better results are possible for VB-111 in the ongoing phase III trial.”

Gbola Amusa has only rated the biotechnology company once before, but according to the 3 analysts polled by TipRanks in the last 3 months, two analysts are bullish on Vascular Biogenics while 1 analyst is staying on the sidelines.