In a report released today, Matthew Keller from H.C. Wainwright reiterated a Buy rating on Gyre Therapeutics, with a price target of $18.00.
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Matthew Keller has given his Buy rating due to a combination of factors including the recent completion of patient enrollment in a Phase 3 trial for pirfenidone in pneumoconiosis in China. This trial is significant as it addresses a common and severe occupational lung disease in China, for which there is currently no approved therapy targeting the underlying fibrotic pathology. The successful enrollment marks a positive advancement for Gyre Therapeutics, potentially opening a new revenue stream and supporting the company’s broader clinical and commercial strategies.
Additionally, Keller’s valuation is supported by Gyre’s lead asset, hydronidone, in MASH and associated fibrosis, which is a major contributor to the company’s net present value model. The Buy rating is further reinforced by potential future developments, such as securing partnership agreements, identifying new indications for approval, and the commercial success of recently acquired assets. Despite these opportunities, Keller acknowledges risks such as regulatory challenges, competition, and the possibility of clinical trial failures.
In another report released on October 10, Jefferies also initiated coverage with a Buy rating on the stock with a $16.00 price target.