NuCana price target adjusted to $150 at Oppenheimer after ADS ratio change

Oppenheimer analyst Leland Gershell raised the firm’s price target on NuCana to $150 from $4 based on the pre-reverse split stock price, while keeping an Outperform rating on the shares. The firm looks forward to the first look from NuCana’s randomized Phase 2 trial in metastatic colorectal cancer-which it expects to occur late Aug/Sept-as it could show meaningful clinical differentiation for NUC-3373 vs. 5-fluorouracil as part of the standard-of-care regimen for second-line disease.