H.C. Wainwright analyst Joseph Pantginis reiterated a Buy rating on Compass Therapeutics (CMPX – Research Report) today and set a price target of $24.00.
Joseph Pantginis has given his Buy rating due to a combination of factors surrounding Compass Therapeutics’ promising developments with their lead asset, tovecimig. The recent initiation of a Phase 1/2 Investigator Sponsored Trial (IST) for first-line treatment of biliary tract cancer (BTC) marks a significant milestone. This trial, conducted by MD Anderson, aims to evaluate the efficacy and safety of tovecimig in combination with standard-of-care treatments, potentially expanding its application and demonstrating its therapeutic value.
Additionally, Compass Therapeutics has reported encouraging results from their ongoing Phase 2/3 COMPANION-002 study, which showed a statistically significant improvement in the overall response rate (ORR) when tovecimig was combined with paclitaxel compared to paclitaxel alone. This data underscores the potential of tovecimig to become a standard treatment option for second-line BTC, reinforcing its clinical promise and supporting the Buy rating. The anticipation of further updates from these studies adds to the positive outlook for Compass Therapeutics’ stock.
Based on the recent corporate insider activity of 7 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CMPX in relation to earlier this year.