BTIG analyst Jeet Mukherjee maintained a Buy rating on Ascentage Pharma Group International Unsponsored ADR yesterday and set a price target of $48.00.
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Jeet Mukherjee has given his Buy rating due to a combination of factors tied to Ascentage’s advancing clinical pipeline and supportive valuation. Updated data from the phase 2 study in second-line CML show gradually stronger response rates for olverembatinib, particularly in patients previously treated with second-generation TKIs, while maintaining a manageable safety profile despite notable hematologic adverse events.
He also points to encouraging signals in heavily pretreated CML patients, where olverembatinib demonstrates activity even in those harboring high-risk mutations, underscoring its potential in refractory settings. Additionally, the POLARIS-1 phase 3 Ph+ ALL trial continues to show high complete response and deep MRD negativity rates that surpass historical benchmarks with ponatinib and imatinib, and his discounted cash flow valuation, using a 12% discount rate and 2% terminal growth rate, supports a maintained $48 price target.
Mukherjee covers the Healthcare sector, focusing on stocks such as Verastem, ImmunityBio, and Innate Pharma. According to TipRanks, Mukherjee has an average return of 14.5% and a 49.38% success rate on recommended stocks.