Last Friday, Bellerophon (BLPH) announced positive top-line data from a recently concluded Phase 2 dose escalation study (PULSE-PHPF-002), looking at the acute hemodynamic benefit of Bellerophon’s INOpulse system as a therapy for pulmonary hypertension associated with sarcoidosis (PH-Sarc). The Phase 2 testing was set up as a proof of concept study to see if the system could show hemodynamic benefit in PH-Sarc.
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The results were promising, as across the three doses used in the study, all 8 subjects displayed a reduction in mean pulmonary arterial pressure (mPAP) and pulmonary vascular resistance (PVR).
The treatment appears safe too, with no adverse events noted. Next up, Bellerophon will turn its attention to the design of a multi-dose Phase 2b study which will evaluate the chronic benefit of INOpulse in PH-Sarc patients.
Wall Street’s excitement over these results was short-lived, though. Bellerophon stock popped as much as 57% on Friday before giving back much of those gains in the following trading day.
Yet, Brookline analyst Kemp Dolliver thinks BLPH stock has some way to go, and by some way, we mean 812% of upside. Those are the returns investors are looking at, should the stock make it all the way to Dolliver’s $26 price target. No need to add, the analyst’s rating is a Buy. (To watch Dolliver’s track record, click here)
“The evidence dose response in PVR is encouraging,” says Dolliver, “And we look forward to seeing the details of the data. The median survival of PH-Sarc patients is five years, so we think there will be good demand for a treatment that can improve outcomes for this population.”
Interestingly, while Dolliver has high hopes for the stock, the PH-Sarc indication is not included in his model yet.
The optimism is based on the anticipated success of the INOpulse system in fibrotic interstitial lung disease (fILD). The company is currently still enrolling for the Phase 3 REBUILD study. “Management has not provided guidance on timing,” noted Dolliver, who anticipates a data readout in late 2022/early 2023.
Only one other analyst has been tracking BLPH’s progress, but his take is even more bullish than Dolliver’s; put together, the $28 average price target suggests shares will climb by a massive 882% over the next 12 months. Based on the two positive reviews, the stock has a Moderate Buy consensus rating. (See BLPH stock analysis on TipRanks)
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Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
