GTX Inc. (NASDAQ: GTXI) is surging on what may feel a bit like a mystery or a Houdini rally. Apparently Citigroup has raised its target on the company, but the raise is a doubling of the price target to $19.00 per share. It expects late-stage studies of its treatment for muscle wasting that is related to cancer to succeed and that it could even become a buyout candidate as such. $19 from $8, sent the biopharmaceutical company’s shares up 24 percent in pre-market trade on Monday.
Interestingly enough, it is not a blockbuster projection, but it does see up to $760 million in peak sales by 2020 but the upside is that this could ultimately treat a wider patient group from chronic diseases. Ostarine is said to be a selective androgen receptor modulators (SRAMs) and treats muscle loss related to cancer or to the normal process of aging. Citi reportedly said the two candidate profiles will be revealed in the coming year or so and that could bring substantial upside.
Sponsored: Want to Retire Early? Here’s a Great First Step
Want retirement to come a few years earlier than you’d planned? Orare you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
