The annual ASCO (American Society of Clinical Oncology) 2019 meeting will be held on May 31–June 4 in Chicago. On May 15, ASCO released the abstracts that would be discussed during the meeting. Based on the available data, we have picked out a few companies that will be presenting additional data from late-stage clinical trials, which might be impressive for investors.
On May 15, MacroGenics (MGNX) issued a press release announcing positive results from the Phase 3 head-to-head trial, SOPHIA. The trial compared margetuximab and chemotherapy with standard-of-care Herceptin and chemotherapy as a late-line treatment option in HER2+ metastatic breast cancer indications. On June 4, the company will be presenting an oral abstract of the SOPHIA trial at the ASCO meeting.
Analysts’ consensus recommendation for MacroGenics is a “buy.” The consensus target price is 85.73% higher than the previous close on May 29. The target price has been gradually reduced from $35.30 in February to $35.00 in March, $34.55 in April, and $34.36 in May. Among the 13 analysts covering the company, five recommended a “strong buy,” six recommended a “buy,” and two recommended a “hold.”
On December 17, 2018, Puma Biotechnology (PBYI) issued a press release announcing the top-line results from its Phase 3 trial, NALA. The trial compared neratinib and capecitabine with Tykerb and capecitabine in third-line HER2+ metastatic breast cancer indications. The company didn’t demonstrate a statistical improvement in the overall survival. However, the company managed to demonstrate an improvement in progression-free survival. On June 4, Puma Biotechnology will be presenting an oral abstract of the NALA study at the ASCO meeting.
Analysts’ consensus recommendation for Puma Biotechnology is a “hold.” The consensus target price for the company is 64.44% higher than its target price of $43.88 in March, $42.00 in April, and $25.50 in May. Among the ten analysts covering Puma Biotechnology, seven recommended a “hold,” while three recommended a “sell.”