In a report released yesterday, Justin Zelin from BTIG maintained a Buy rating on BioAtla, with a price target of $10.00.
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
Justin Zelin has given his Buy rating due to a combination of factors including BioAtla’s strategic advancements and promising clinical data. The company is poised to execute a phase 3 pivotal study for Ozuriftamab Vedotin, following alignment with the FDA, which could potentially lead to accelerated approval based on the observed efficacy in phase 2 trials. The promising data from the CAB-EpCAM TCE program in adenocarcinomas, despite being early, shows potential for deeper responses with increased dosing and longer follow-up.
Moreover, BioAtla’s CAB-AXL-ADC program has shown encouraging results in a phase 2 study, with a median overall survival rate that surpasses historical rates for approved agents. The valuation of BioAtla, supported by a DCF analysis, reflects confidence in the company’s ability to advance its pipeline and secure strategic transactions by the end of 2025. These factors collectively underpin Zelin’s optimistic outlook and Buy rating for BioAtla’s stock.
Zelin covers the Healthcare sector, focusing on stocks such as Viking Therapeutics, IDEAYA Biosciences, and NovaBridge Biosciences. According to TipRanks, Zelin has an average return of 6.2% and a 37.89% success rate on recommended stocks.