Analysts at Maxim Group maintained their ‘Buy’ rating and a $23.00 price target on the shares of Tekmira Pharmaceuticals Corp (TKMR) in a research report issued to clients on Monday. The firm notes that the recent outbreak of Ebola has renewed hope that a trial of the company’s TKM-Ebola Phase 1 Ebola treatment, which was placed on a clinical hold last month by the FDA, will be renewed. Maxim also notes that the exceptional circumstances of the two U.S. aid workers infected with Ebola, which has killed over 700 people in six months, may result in regulators expediting Tekmira’s drug. The FDA has announced that it “stands ready” to work with companies fighting the Ebola outbreak.
A senior official at the FDA told Reuters that “the agency would consider proposals for providing treatments under special emergency new drug applications”, if the proposed treatment outweighed the potential safety risks.
Tekmira Pharmaceuticals shares, which surged more than 17% in trading Monday, a move that follows an 11% spike on Friday, are trading at an unusually high volume with more than 5.2 million shares changing hands at $16.75 as of 9:48 am ET. Ticker is currently at six times its average 3 month average volume of 723K.
In the past 52 weeks, shares of Tekmira Pharmaceuticals have traded between a low of $5.08 and a high of $31.48.The stock’s 50-day moving average is $12.23 and its 200-day moving average is $14.01.
The chart below shows where the equity has traded over the last 52 weeks, with the 50-day and 200-day MAs included.
Over the past year ticker has gained 156% vs. 86% year-to-date.
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