Leerink Partners analyst Andrew Berens has maintained their bullish stance on CMPX stock, giving a Buy rating yesterday.
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Andrew Berens has given his Buy rating due to a combination of factors related to Compass Therapeutics’ promising clinical trial results and management’s confidence in their ongoing studies. The company’s COMPANION-002 trial for tovecimig combined with paclitaxel in second-line biliary tract cancer has shown statistically significant results in overall response rate, which is a positive indicator of the treatment’s efficacy.
Additionally, the slower-than-expected accrual of progression and death events suggests that the control arm’s median progression-free survival and overall survival assumptions may be conservative, potentially leading to more favorable outcomes. Management’s assurance of smooth trial operations and the potential application for Breakthrough Designation further bolster confidence in the company’s strategic direction. The pipeline’s progress, including upcoming Phase 1 data and IND filings, also supports the positive outlook for Compass Therapeutics.
In another report released yesterday, Raymond James also initiated coverage with a Buy rating on the stock with a $9.00 price target.