In a report released today, Swayampakula Ramakanth from H.C. Wainwright maintained a Buy rating on Actuate Therapeutics, Inc., with a price target of $20.00.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Swayampakula Ramakanth has given his Buy rating due to a combination of factors including Actuate Therapeutics’ strategic plans and financial outlook. The company is preparing for potential Phase 3 trials for their drug elraglusib in treating metastatic pancreatic ductal adenocarcinoma (mPDAC), with meetings scheduled with regulatory bodies like the FDA and EMA in early 2025. Although the FDA did not grant Breakthrough Therapy Designation for elraglusib, the data from Phase 2 trials suggest a promising efficacy profile, which could lead to a favorable regulatory decision if confirmed in larger studies.
Additionally, Actuate is exploring a Phase 2 study for elraglusib in treating relapsed/refractory Ewing sarcoma, indicating a potential expansion of its therapeutic applications. Financially, the company reported a net loss that was slightly better than expected and has sufficient cash reserves to support operations into the second quarter of 2026. The Buy rating is also supported by a risk-adjusted net present value analysis, leading to a 12-month price target of $20 per share. However, potential risks include financial, clinical, regulatory, and competitive challenges.
In another report released on November 14, Craig-Hallum also maintained a Buy rating on the stock with a $25.00 price target.