In a report released today, Robert Burns from H.C. Wainwright reiterated a Buy rating on Perspective Therapeutics, with a price target of $10.00.
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Robert Burns has given his Buy rating due to a combination of factors related to Perspective Therapeutics’ ongoing clinical trials and market potential. The company has recently treated the first patient in the second cohort of their Phase 1/2a trial for PSV359, which is aimed at assessing the safety and initial anti-tumor activity in patients with solid tumors expressing fibroblast activation protein alpha (FAP-α). This progress in dose escalation is a positive indicator for the drug’s development.
Despite the challenges in directly comparing PSV359’s preclinical efficacy with competitors due to differing experimental models, the initial results are promising. Burns highlights the significant market opportunity for FAP-targeted radioligand therapy (RLT) agents, as FAP is expressed across various tumor types. This broad potential market supports the sustainability of multiple FAP-targeted therapies, reinforcing the Buy rating and a 12-month price target of $10.
Burns covers the Healthcare sector, focusing on stocks such as Replimune Group, Cullinan Management, and Exelixis. According to TipRanks, Burns has an average return of -11.5% and a 35.00% success rate on recommended stocks.
In another report released on September 15, Oppenheimer also reiterated a Buy rating on the stock with a $14.00 price target.