SELLAS Life Sciences Group Inc (SLS) Receives a Buy from Oppenheimer

By Austin Angelo

Oppenheimer analyst Hartaj Singh maintained a Buy rating on SELLAS Life Sciences Group Inc (SLSResearch Report) today and set a price target of $13. The company’s shares opened today at $1.82, close to its 52-week low of $0.80.

Singh noted:

“Sellas (SLS) provided a 3Q18 update to investors on 11/15. The company has had robust recent newsflow with: (1) a positive presentation of nelipepimut-s (NPS) data at the ESMO 2018 medical conference in late October; (2) a resolution of its legal wrangling with JGB, a corporate entity that was affiliated to the previous Co’s (Galena) shell that SLS reverse merged into in YE17; and (3) additional data from a pre-planned secondary efficacy analysis for the NPS phase 2b trial across HLA allele subgroups that was presented at SITC 2018 on 11/09. With additional analyses to be presented at SABCS (breast cancer conference) in early December and an FDA meeting on NPS next-steps by YE18, we expect robust newsflow to continue. We stay bullish.”

According to TipRanks.com, Singh is a 3-star analyst with an average return of 1.5% and a 35.4% success rate. Singh covers the Healthcare sector, focusing on stocks such as Strongbridge Biopharma Plc, Syndax Pharmaceuticals Inc, and Catabasis Pharmaceuticals.

SELLAS Life Sciences Group Inc has an analyst consensus of Moderate Buy, with a price target consensus of $9, which is a 394.5% upside from current levels. In a report issued on November 9, Maxim Group also maintained a Buy rating on the stock with a $5 price target.

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The company has a one-year high of $12.01 and a one-year low of $0.80. Currently, SELLAS Life Sciences Group Inc has an average volume of 1.97M.

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SELLAS Life Sciences Group, Inc. operates as a clinical stage biopharmaceutical company, which focuses on the development and commercialization of novel cancer immunotherapeutic for a broad range of indications. Its product galinpepimut-S, or GPS, is an immunotherapeutic agent licensed from Memorial Sloan Kettering Cancer Center, or MSK, which targets the Wilms tumor 1, or WT1, protein. The company was founded on April 3, 2006 and is headquartered in New York, NY.