H.C. Wainwright analyst Brandon Folkes has reiterated their bullish stance on EPRX stock, giving a Buy rating yesterday.
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Brandon Folkes has given his Buy rating due to a combination of factors, primarily driven by the promising data from the RESOLVE trial’s Cohort 9. This cohort, which received the highest planned dose of EP-104GI, showed significant improvements in tissue health and eosinophil reduction, reinforcing the drug’s potential for once-yearly dosing. The endorsement from the RESOLVE Safety Committee and the Clinical Advisory Board to advance this dose into Phase 2b of the study further highlights its potential. Importantly, the treatment was well tolerated with no serious adverse events, enhancing its safety profile.
The durability of EP-104GI’s efficacy over twelve months supports its commercial potential in the U.S. market for eosinophilic esophagitis, which exceeds one million patients. This long-acting, locally delivered therapy could streamline treatment pathways and differentiate itself from existing therapies, potentially leading to a positive stock re-rating. The expansion of the Phase 2b trial to include more patients will strengthen the safety database and improve the chances of a successful Phase 3 trial, further supporting the Buy rating.
Folkes covers the Healthcare sector, focusing on stocks such as Eupraxia Pharmaceuticals, ANI Pharmaceuticals, and MannKind. According to TipRanks, Folkes has an average return of -4.7% and a 38.51% success rate on recommended stocks.
In another report released yesterday, Craig-Hallum also reiterated a Buy rating on the stock with a $12.00 price target.