As previously reported, SunTrust upgraded NewLink Genetics to Buy from Hold and raised its price target to $30 from $12. Analyst Peter Lawson said shares have recovered quicker than anticipated after the clinical failure but sees further upside driven by data and increased interest in late stage assets. The analyst updated his model to reflect the melanoma indication,which increased his price target by $10 per share, ahead of readouts starting at AACR and continuing throughout the year. Lawson said NewLink is a pure play in IDO inhibitors and will continue to benefit from increasing validation of the IDO inhibitor class through 2017, and believes it is well positioned as an M&A target.