J.P. Morgan analyst Tessa Romero has maintained their bullish stance on UPB stock, giving a Buy rating yesterday.
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Tessa Romero’s rating is based on the impressive phase 2 results of Upstream Bio’s drug, verekitug, in treating chronic rhinosinusitis with nasal polyps (CRSwNP). The results demonstrated significant improvements in both primary and secondary endpoints, such as a notable reduction in the endoscopic nasal polyp score and nasal congestion score at 24 weeks, which were comparable to existing treatments like Dupixent.
Additionally, the drug showed statistically significant improvements in other areas, including sinus opacification and reduced need for corticosteroids or surgery, while maintaining a favorable safety profile. The anticipation of these positive results has already driven the stock price up significantly, and there is potential for further growth as the market recognizes verekitug’s potential as a promising treatment option. The upcoming presentation of additional data and future trials are expected to further influence the stock’s performance positively.