Analyst Jason McCarthy of Maxim Group maintained a Buy rating on Plus Therapeutics, retaining the price target of $3.00.
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Jason McCarthy has given his Buy rating due to a combination of factors that highlight Plus Therapeutics’ strategic advancements and promising developments. The company has made significant strides in expanding its CNSide diagnostics, now licensed in 48 states and covering 90% of the U.S. population, which is crucial for broadening its market reach. Additionally, the recent insurance coverage agreements with major providers like Humana and UnitedHealthcare have extended coverage to 67 million lives, showcasing Plus Therapeutics’ strong commercial progress.
Furthermore, Plus Therapeutics is advancing its therapeutic pipeline, particularly with its leptomeningeal metastases (LM) program. The completion of a Type B meeting with the FDA and the upcoming presentation of the ReSPECT study results at a major symposium underscore the potential of their LM treatment. The CNSide assay’s high sensitivity and ability to detect actionable biomarkers provide a significant advantage over current standard-of-care methods, reinforcing its clinical utility and potential impact on treatment decisions. These factors collectively support Jason McCarthy’s optimistic outlook and Buy rating for Plus Therapeutics.
In another report released on November 26, H.C. Wainwright also reiterated a Buy rating on the stock with a $2.00 price target.