Analyst Buzz: Memorial Resource Development Corp (NASDAQ:MRD), Threshold Pharmaceuticals, Inc.(NASDAQ:THLD)
Howard Weil initiates Memorial Resource Development Corp(NASDAQ:MRD) with a Sector Outperform and price target of $33. Memorial Resource Development is a unique Cotton Valley focused Company in the early stages of exploiting its prolific Terryville asset. MRD’s Terryville field is located in north Louisiana, which has ample infrastructure and beneficial pricing, compared to the other natural gas levered cos that are primarily located in Appalachia. Further, MRD has a significant growth profile over the next three years while delivering ~$300 MM in free cash flow. They heavily risk its Terryville inventory but initial results are staggering
Brean Capital assumes coverage of Threshold Pharmaceuticals, Inc.(NASDAQ:THLD) with a Buy and sets target price at $15. Threshold’s lead drug candidate TH-302 is in Phase 3 for soft tissue sarcoma. An interim analysis will take place in mid-2014 and the final OS analysis will take place in mid-2015. They look forward to positive Phase 3 results which should lead to regulatory filings as early as 2015. A Phase 3 trial in pancreatic cancer is also ongoing. Earlierstage trials in additional indications including hematological malignancies and solid tumors (renal and gastrointestinal stromal tumors) will read out starting mid-2014.
Tags: Inc. (NASDAQ:THLD), Memorial Resource Development Corp (NASDAQ:MRD), Threshold Pharmaceuticals