H.C. Wainwright analyst Robert Burns reiterated a Buy rating on Elicio Therapeutics today and set a price target of $13.00.
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Robert Burns has given his Buy rating due to a combination of factors surrounding Elicio Therapeutics’s promising developments. The company’s ELI-002 2P has shown impressive results in early trials, particularly in improving the median recurrence-free survival (mRFS) in patients with pancreatic cancer. This performance suggests that ELI-002 2P could outperform historical controls, which is a positive indicator for its potential success in future trials.
Furthermore, the upcoming interim analysis of the Phase 2 trial for ELI-002 7P is anticipated to be a significant catalyst. Should the disease-free survival (DFS) results be statistically significant, it could lead to the initiation of a Phase 3 trial, enhancing the commercial prospects of ELI-002 7P. The potential for successful commercialization across multiple solid tumor types could generate substantial revenue, estimated to exceed $550 million in the U.S. by 2035. This potential, combined with the lowered discount rate and the raised price target to $13 per share, supports the Buy rating.
According to TipRanks, Burns is an analyst with an average return of -12.4% and a 35.32% success rate. Burns covers the Healthcare sector, focusing on stocks such as BioNTech SE, Exelixis, and Bicara Therapeutics Inc..