In a report released today, Sean Lee CFA from H.C. Wainwright maintained a Buy rating on Plus Therapeutics, with a price target of $3.00.
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Sean Lee CFA has given his Buy rating due to a combination of factors influencing Plus Therapeutics’ outlook. A significant development is the coverage of the company’s CNSide assay by United Healthcare, which expands its reimbursement potential to a vast number of patients in the U.S. This coverage, along with the recent CLIA certification, positions CNSide for broader national availability, which is expected to drive revenue growth.
Additionally, the upcoming presentation at the Society for Neuro-Oncology annual meeting is anticipated to be a catalyst, with potential positive updates from the ReSPECT-LM study. The study’s promising preliminary results, including high response rates and favorable survival outcomes, suggest a strong future for the company’s pipeline. Furthermore, the valuation of Plus Therapeutics is supported by a risk-adjusted net present value analysis, which underpins the $3.00 price target, reflecting confidence in the company’s long-term revenue prospects from its innovative products.