Analysts at Leerink Partners initiated coverage on Tekmira Pharmaceuticals Corp. (TKMR) with a ‘Outperform’ rating and a $25.00 price target in a research report issued to clients on Monday. Currently, only a couple of firms cover the stock of the Canadian-based company. Maxim Group has a ‘Buy’ rating and $23.00 price target on the equity, while RBC Capital Markets has an ‘Outperform’ rating. The biopharmaceuticals company has a median Wall Street price target of $26.25 with a high target of $31.00
In July, Tekmira, one of the few pharmaceutical firms developing treatments for the deadly Ebola virus, received verbal confirmation notice from the U.S. Food and Drug Administration that the company’s TKM-Ebola Phase 1 Ebola treatment was on clinical hold. Subsequently, the company received written notice from the FDA modifying the clinical hold to a “partial clinical hold,” allowing for the potential use of TKM-Ebola in individuals that are already infected with Ebola virus.
TKMR has traded between a 52/wk-low of $5.08 and a 52/wk-high of $31.48, which is almost 520% above that low price. Over the past 52 weeks the stock of the $399.68 million market company has gained 248.36%. Year-to-date the equity is up about 127%.
Shares of Tekmira are up almost 9% in premarket trading, nearing $19.70 a share after last closing at $16.50.
TKMR is still far below the all-time high of $31.48 touched in March this year.
The chart below shows where the stock has traded over the last 52 weeks, with the 50-day and 200-day moving averages included.