UPDATE: Wedbush Raises PT on Oncothyreon to $7 (ONTY)

Wedbush is out with its report today on Oncothyreon ONTY, raising its PT from $6 to $7. In a note to clients, Wedbush writes, "Our new price target of $7 is derived from applying a 6X multiple to estimated 2015 revenues, discounted by 50% annually given the history of therapeutic cancer vaccines, we feel it is prudent to heavily discount potential Stimuvax revenues." At the time of posting, shares of ONTY were trading pre-market at $5.11, up 2.82% from Monday's close.