Theratechnologies Inc (TSE:TH) shares rose more than 8% on Tuesday after being maintained as a Buy but with a raised price target of C$5.30 from C$2.30.
Theratechnologies announced on Tuesday that the primary endpoint from its ibalizumab open-label Phase III trial for multi-drug resistant HIV patients hit its primary endpoint.
Ibalizumab is a novel CD4-directed HIV entry-inhibitor, a humanized monoclonal antibody (mAb).
"With the success of this Phase III trial and given the drug has breakthrough designation, we expect ibalizumab to obtain both FDA and Health Canada approval. Our current model has assumed U.S. and Canadian commercialization of ibalizumab in 2017 and 2018, respectively," said Mackie.
Theratechnologies shares closed up 8.5% at C$2.55 on Tuesday.
Meanwhile, Lundin Gold (TSE:LUG) was recommended as a Buy with share price target of C$6.75 by Dundee Capital Markets.
Lundin Gold Inc. is a Canadian mining company listed on the Toronto TSX and Nasdaq Stockholm exchanges.
On April 20, LUG announced plans to initiate a regional exploration campaign directed at five highly prospective targets located 15 to 20km south of FDN.
"With the feasibility study expected within a matter of weeks, LUG has initiated a regional exploration campaign to test several high priority targets south of the world class Fruta del Norte Au-Ag deposit. The feasibility will trigger an application for the exploitation license, which in turn, will set the clock ticking on the final signing of the exploitation agreement to advance the project to construction," noted Dundee.
"Exploration, at the best of times, is a high-risk activity; but here along a geological trend that is host to the world class FDN deposit, the rewards could be tremendous," Dundee added.
Lundin shares ended down 2.1% at C$5.66 on Tuesday.