Sean Lee CFA, an analyst from H.C. Wainwright, maintained the Buy rating on CASI Pharmaceuticals. The associated price target is $4.00.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Sean Lee CFA has given his Buy rating due to a combination of factors including promising clinical data and competitive positioning. CASI Pharmaceuticals presented encouraging interim Phase 1 results for their anti-CD38 antibody, CID-103, at the ASH Annual Meeting. The study showed a 73% overall response rate in heavily pre-treated patients with immune thrombocytopenia, indicating the drug’s potential efficacy.
Furthermore, CID-103 demonstrated a favorable safety profile with no dose-limiting toxicities, which enhances its appeal compared to competitors. The drug’s performance, particularly at the highest tested dose, positions it competitively against other leading treatments in the ITP space. Additionally, the valuation of CASI supports the Buy rating, with a 12-month price target of $4.00 per share based on robust valuation methods. Despite risks such as clinical and regulatory challenges, the potential for CID-103 to achieve best-in-class status underpins the positive outlook.
Lee CFA covers the Healthcare sector, focusing on stocks such as Plus Therapeutics, Verastem, and Dogwood Therapeutics. According to TipRanks, Lee CFA has an average return of 4.7% and a 36.19% success rate on recommended stocks.