Champions Oncology price target raised to $12 from $8 at Craig-Hallum

Craig-Hallum analyst Matt Hewitt raised the firm’s price target on Champions Oncology (CSBR) to $12 from $8 and keeps a Buy rating on the shares. The firm notes the company reported strong Q3 results, which featured a substantial data licensing deal signed by a large pharma company for rights to their cancer data. The company recognized $4.5M for this with potential of up to $8M. This deal led to revenues of $17M vs. $12.9M estimates and led to beats across the board. Craig-Hallum sees this company capitalizing on its large data offerings as it seeks to make drug development more efficient for customers.