William Blair analyst Matt Phipps has maintained their neutral stance on JSPR stock, giving a Hold rating on August 13.
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Matt Phipps has given his Hold rating due to a combination of factors surrounding Jasper Therapeutics. One of the primary concerns is the recent issues with an inactive drug product lot in the BEACON study, which has led to confounding results and necessitated re-dosing and additional patient enrollment. This situation has created uncertainty about the study’s outcomes and has impacted the company’s timeline for advancing their drug development.
Additionally, while Jasper is actively investigating the issue and remains confident in the efficacy of the drug product being used for re-dosing, the ongoing investigation and the need for further patient data contribute to a cautious outlook. The company plans to provide an update in the second half of the year, with expectations to select an appropriate dose for Phase IIb development by the end of 2025. These factors, combined with the potential for further delays, have led to a Hold rating as the situation unfolds.
In another report released on August 13, RBC Capital also maintained a Hold rating on the stock with a $5.00 price target.
JSPR’s price has also changed dramatically for the past six months – from $6.080 to $3.030, which is a -50.16% drop .