BTIG analyst Thomas Shrader lowered the firm’s price target on BioAtla to $13 from $68 and keeps a Buy rating on the shares. The firm thinks it is too early to abandon the story based on a surprising cohort, and that the BA3011 + CPI combination arm is the only negative readout to date with an ORR of 12.5% with one CR in eight patients, far below the 44% seen in the monotherapy arm in CPI-failed NSCLC, the analyst tells investors in a research note. While the data is "very strange," rogue cohorts are possible in salvage patients, the firm says.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on BCAB:
- BioAtla price target lowered to $12 from $17 at JMP Securities
- BioAtla price target lowered to $17 from $20 at H.C. Wainwright
- BioAtla reports Q4 net loss $27.5M vs. net loss of $23.4M last year
- BioAtla Reports Fourth Quarter and Full Year 2022 Financial Results and Highlights Recent Progress
- JPMorgan biotech/pharma analysts to hold KOL analyst/industry conference call