In a report released today, Oliver McCammon from LifeSci Capital maintained a Buy rating on Celcuity, with a price target of $65.00.
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Oliver McCammon has given his Buy rating due to a combination of factors including Celcuity’s recent positive regulatory update concerning their drug, gedatolisib. The FDA’s acceptance of the New Drug Application (NDA) for gedatolisib under the Real-Time Oncology Review (RTOR) program is a significant milestone, as it indicates the potential for an expedited review process. This acceptance is based on promising results from the Phase 3 VIKTORIA-1 trial, where the drug demonstrated a substantial improvement in median progression-free survival (mPFS) for patients with advanced/metastatic ER+ breast cancer.
The trial results showed that the combination of gedatolisib with fulvestrant and palbociclib significantly outperformed the comparator arm, with a notable increase in mPFS. This suggests that gedatolisib could offer a meaningful advancement over existing therapies. Additionally, the RTOR program’s criteria, which include clear clinical trial endpoints and the potential for substantial improvement, align well with the data presented by Celcuity. These factors collectively support McCammon’s positive outlook on the company’s stock.
McCammon covers the Healthcare sector, focusing on stocks such as Celcuity, Janux Therapeutics Inc, and Perspective Therapeutics. According to TipRanks, McCammon has an average return of 65.2% and a 57.14% success rate on recommended stocks.
In another report released on August 19, Stifel Nicolaus also maintained a Buy rating on the stock with a $68.00 price target.