H.C. Wainwright sees Actinium as buyout candidate after Mariana deal

H.C. Wainwright analyst Joseph Pantginis sees Actinium Pharmaceuticals (ATNM) as a likely takeover candidate after Novartis (NVS) has entered into an agreement to acquire Mariana Oncology. Mariana is a preclinical-stage biotech company developing novel radioligand therapies to treat high unmet need cancers, the analyst tells investors in a research note. The firm says Actinium’s “extensive radiotherapy pipeline continues to make steady progress.” It believes the Novartis acquisition further bolsters its stance that radiotherapy technologies represent significant clinical and value generating potential. Radiopharmaceutical companies with the pipelines, resources and expertise in the space, such as Actinium, “are primed for M&A interest,” contends H.C. Wainwright. The firm keeps a Buy rating on the shares with a $50 price target.