Elicio Therapeutics (ELTX – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Robert Burns from H.C. Wainwright reiterated a Buy rating on the stock and has a $10.00 price target.
Robert Burns has given his Buy rating due to a combination of factors including Elicio Therapeutics’ financial position and potential future developments. Despite reporting a wider net loss for 2024 than initially estimated, the company has sufficient cash reserves to fund operations into late 2025, which aligns with the anticipated release of updated clinical data for their ELI-002 7P formulation. This financial stability, coupled with the potential for significant revenue from the successful commercialization of ELI-002 7P, supports the positive outlook.
Additionally, the upcoming interim analysis from the Phase 2 AMPLIFY-7P trial is a key catalyst that could drive share price appreciation. The valuation of Elicio Therapeutics is based on a discounted cash flow approach, with a 30% probability of regulatory approval for ELI-002 7P in treating KRAS-mutated cancers. While there are risks such as potential failure in clinical trials or regulatory hurdles, the projected peak revenues and strategic market positioning justify the Buy rating.
According to TipRanks, Burns is an analyst with an average return of -24.3% and a 22.95% success rate. Burns covers the Healthcare sector, focusing on stocks such as Exelixis, Perspective Therapeutics, and Oric Pharmaceuticals.