Citi Provides Color on GTx, Buy

Citi provided color on GTx GTXI after the company has finalized the design of its Phase 3 studies of Ostarine. In a research report published today, Citi stressed that Ostarine does not have any competition at the moment, so the company should be strengthened by the entry of this drug into the market. In the report, Citi states, "There are currently no drugs that address this market; however, given that there are ~100k NSCLC patients in the US who begin 1st line chemotherapy each year, we believe the market opportunity could be substantial. Additionally, there may also be an opportunity to eventually expand into other cancer indications as well. We do not currently include Ostarine into our model; therefore, this program represents upside to our currently PT of $8." At the moment, Citi has a Buy rating and a price target of $8 placed on the company's stock. On Friday, GTx lost 2.81% of its value to close the week at $5.89.