NewLink Genetics (NASDAQ:NLNK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The brokerage currently has a $9.00 target price on the biotechnology company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 6.26% from the company’s previous close.
According to Zacks, “NewLink Genetics Corporation is a biopharmaceutical company which focuses on discovering, developing and commercializing immunotherapeutic products for cancer treatment. Its portfolio also includes biologic and small-molecule immunotherapy products used for the treatment of oncology indications. NewLink Genetics Corporation is headquartered in Ames, Iowa. “
A number of other research analysts have also weighed in on the company. Jefferies Group reduced their price target on NewLink Genetics from $26.00 to $25.00 and set a “buy” rating on the stock in a research note on Friday, November 3rd. Stifel Nicolaus increased their price target on NewLink Genetics from $25.00 to $29.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $26.00 target price on shares of NewLink Genetics in a research report on Thursday, November 2nd. Bank of America initiated coverage on NewLink Genetics in a research report on Friday, October 13th. They issued a “buy” rating and a $22.00 target price on the stock. Finally, ValuEngine lowered NewLink Genetics from a “sell” rating to a “strong sell” rating in a research report on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $23.29.
In other news, major shareholder Stine Seed Farm, Inc. bought 780,487 shares of the business’s stock in a transaction that occurred on Friday, October 6th. The shares were acquired at an average cost of $10.25 per share, with a total value of $7,999,991.75. Following the transaction, the insider now owns 7,857,732 shares of the company’s stock, valued at approximately $80,541,753. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 13.70% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in NewLink Genetics by 1,823.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,269 shares of the biotechnology company’s stock valued at $105,000 after purchasing an additional 9,735 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new stake in NewLink Genetics in the 3rd quarter valued at $114,000. State of Wisconsin Investment Board acquired a new stake in NewLink Genetics in the 2nd quarter valued at $125,000. Advisor Group Inc. increased its holdings in NewLink Genetics by 3.4% in the 2nd quarter. Advisor Group Inc. now owns 18,082 shares of the biotechnology company’s stock valued at $133,000 after purchasing an additional 600 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in NewLink Genetics by 3.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 19,069 shares of the biotechnology company’s stock valued at $140,000 after purchasing an additional 556 shares in the last quarter. Hedge funds and other institutional investors own 52.63% of the company’s stock.
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About NewLink Genetics
NewLink Genetics Corporation is a clinical-stage immuno-oncology company focused on discovering, developing and commercializing immunotherapeutic products for the treatment of cancer. The Company’s portfolio includes biologic and small-molecule immunotherapy product candidates for a range of oncology indications.
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