SELLAS Life Sciences Group Inc Gets a Buy Rating from Maxim Group

By Ryan Adsit

In a report released today, Jason McCarthy from Maxim Group assigned a Buy rating to SELLAS Life Sciences Group Inc (NASDAQ: SLS), with a price target of $13. The company’s shares opened today at $6.60.

McCarthy said:

“The prior interim data readout for the P2b trial, specifically in patients with triple negative breast cancer (TNBC), evaluating NeuVax + Herceptin demonstrated efficacy and continued safety. Board (DSMB) recommended pursuing TNBC. As such, the P2b trial has been halted and Sellas is in discussions with regulators regarding an optimal path forward to take the NeuVax + Herceptin combination to a pivotal trial.”

According to TipRanks.com, McCarthy is a 4-star analyst with an average return of 10.5% and a 46.2% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, ContraVir Pharmaceuticals Inc, and Actinium Pharmaceuticals.

SELLAS Life Sciences Group Inc has an analyst consensus of Moderate Buy, with a price target consensus of $12.

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Based on SELLAS Life Sciences Group Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $9.96 million. In comparison, last year the company had a GAAP net loss of $11.72 million.

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