Tekmira Stock Surges with the First US Reported Ebola Case By Carly Forster
Tekmira Pharmaceuticals (NASDAQ:TKMR) is a Vancouver, Canada based bio-pharmaceutical company who is a known world leader in RNA Interference (RNAi) delivery technology. The company focuses on novel RNAi-based product candidates. Most recently Tekmira has been developing a treatment for the Ebola virus, called TKM-EBOLA.
Tekmira Pharmaceuticals In The News
Shares of Tekmira jumped up about 27% on Tuesday, September 30th and continued to increase the rest of the week after reports came out of the very first case of the Ebola virus in the United States. This is the first case of Ebola diagnosed outside of Africa. Tekmira is currently in phase 1 of testing TKM –EBOLA, having already treated two American aid workers back in August and a few patients outside of the United States with some success. The company will continue to test TKM-EBOLA in Africa, where the Ebola outbreak is the worst.
Tekmira Pharmaceuticals – A Financial Expert’s Opinion
On October 3rd, Maxim Group analyst Jason Kolbert reiterated a Buy rating on Tekmira Pharmaceuticals and raised his price target from $23 to $31. He noted, “Tekmira continues to make progress in the development of TKM-EBOLA. On September 22, 2014 the company announced that TKM-EBOLA was cleared for emergency use on the ground in West Africa. The company announced it will join an international consortium that will establish clinical development centers in Ebola hot zones. We have accelerated our Ebola assumptions and as a result it drives additional upside.” Kolbert has rated Tekmira 8 times, earning an 86% success rate recommending the stock.
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Jason Kolbert’s Past Recommendations
Kolbert has a history of rating stocks in the pharmaceutical industry, such as Gilead Sciences (GILD) and Vertex Pharmaceuticals (VRTX), helping him earn a 50% success rate recommending stocks and a +11.8% average return per recommendation.