In a report released on August 13, Charles Zhu from LifeSci Capital maintained a Buy rating on Mersana Therapeutics, with a price target of $50.00.
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Charles Zhu has given his Buy rating due to a combination of factors surrounding Mersana Therapeutics’ recent developments and future prospects. The company has reported promising updates on their XMT-1660 expansion cohort enrollment and data readout timelines, which are crucial for their upcoming data expectations. The management has highlighted that the Emi-Le Phase 1 dose expansion has shown significant enrollment in post-topo TNBC patients, and they have made adjustments to the treatment protocol to allow for continued therapy in the absence of certain side effects, potentially leading to better outcomes.
Furthermore, the management is optimistic about the upcoming data readout in the second half of 2025, expecting improved response rates and durability due to the mitigation of proteinuria. They believe that if the results replicate past successful outcomes, Emi-Le could perform well against the standard of care chemotherapy in trials. This confidence, along with the strategic adjustments made, positions Mersana Therapeutics favorably in the evolving TNBC market, supporting the Buy rating.
Zhu covers the Healthcare sector, focusing on stocks such as Merus, Zymeworks, and Nuvalent. According to TipRanks, Zhu has an average return of -2.7% and a 44.26% success rate on recommended stocks.
In another report released yesterday, Guggenheim also maintained a Buy rating on the stock with a $30.00 price target.