UPDATE: Jefferies Initiates NewLink Genetics at Buy on Immunotherapy Platform Upside

In a report published Friday, Jefferies analyst Biren Amin initiated coverage on NewLink Genetics (NASDAQ: NLNK) with a Buy rating and $29.00 price target.

In the report, Jefferies noted, “We believe multiple data readouts with potentially positive outcomes over the next 12-18 months offer attractive upside to NLNK shares. Final PIII IMPRESS trial data from algenpantucel-L in surgically resected pancreatic patients should be available in 2H '14 with two potential interims available in the next 6-12 mo. We estimate 70% odds of the IMPRESS trial with pot'l risk-adjusted sales in pancreatic cancer of $497M in 2023.”

NewLink Genetics closed on Thursday at $19.86.