UPDATE: Aegis Capital Reiterates on Stemline Therapeutics Ahead of ASH Annual Meeting

In a report published Wednesday, Aegis Capital analyst Raghuram Selvaraju reiterated a Buy rating and $70.00 price target on Stemline Therapeutics (NASDAQ: STML).

In the report, Aegis Capital noted, “We would guide investors to focus on the upcoming American Society for Hematology (ASH) Annual Meeting, which is slated to take place December 7-10 in New Orleans, LA. Stemline is slated to present additional clinical data on its lead drug candidate, SL-401, in blastic plasmacytoid dendritic cell neoplasm (BPDCN). Among the most fundamental data points is the potential disclosure for the first time of clinical response in a patient who has undergone retreatment with the drug. SL-401 is hypothesized to gain in efficacy with administration of additional cycles. Like Ontak (denileukin diftitox), SL-401 could also show an improved safety profile upon further patient exposure. In anticipation of favorable data at the ASH meeting and near-term initiation of pivotal clinical development of SL-401 in the BPDCN indication, we reiterate our Buy rating and 12-month price target of $70.00 per share on Stemline.”

Stemline Therapeutics closed on Tuesday at $23.29.