Why OvaScience Shares Soared 35%

Editor's note: This is an update to a story published earlier on Benzinga.

Shares of OvaScience Inc (NASDAQ: OVAS) soared 35 percent Thursday following its announcement on Wednesday that it achieved its 2014 corporate goals.

The company is advancing the AUGMENTSM, OvaPrimeSM and OvaTureSM treatments for patients in need of new fertility treatment options.
The company indicated that its OvaPrime Treatment will be introduced into select international IVF Clinics by the end of 2015.

Amid the positive news, Wedbush Securities upgraded the stock from Neutral to Outperform and boosted the price target from $22 to $47.

Analyst Gena Wang of Leerink commented that the company’s OvaTure treatment is a potential breakthrough in the IVF field and the stock could see significant upside. Leerink increased its price target from $23 to $56.

At H.C. Wainwright analyst Andrew S. Fein of commented that “Beyond AUGMENT, the company remains on track for OvaPrime’s debut in 2015 following recent POC data in non-human primates (likely a controlled rollout similar to AUGMENT), and is ramping up preclinical efforts on the truly-disruptive OvaTure technology, assisted by partner Intrexon (hormone-free, ex-ovary egg maturation and fertilization).”

Fein reiterated his Buy rating and raised the price target from $40 to $100 “based on management’s strong execution record to date in speeding IVF technologies from preclinical to clinical and to commercial stage, and our new assumptions on the IVF market opportunity for AUGMENT.”

OvaScience recently traded at $47.87, up 34 percent.