Analyst Matthew Keller from H.C. Wainwright reiterated a Buy rating on Phio Pharmaceuticals (PHIO – Research Report) and keeping the price target at $14.00.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Matthew Keller has given his Buy rating due to a combination of factors, primarily focusing on the promising clinical progress of Phio Pharmaceuticals’ lead asset, PH-762. The recent recommendation by the safety monitoring committee to advance the PH-762 Phase 1b trial to the final cohorts highlights the drug’s favorable safety profile, as no dose-limiting toxicities or serious adverse events have been reported thus far. This progress underscores the potential of PH-762 to become a first-in-class treatment for skin cancers, given its demonstrated efficacy in early cohorts, where several patients achieved complete or near-complete responses.
Additionally, Keller’s valuation and price target of $14 are supported by a clinical net present value model, which attributes significant value to PH-762’s potential in treating cutaneous squamous cell carcinoma and melanoma. The rating also considers potential future upside from strategic partnerships, expansion into new indications, and the progression of preclinical assets into clinical development. However, Keller acknowledges risks such as potential clinical trial failures, funding challenges, and market success, which could impact the achievement of the price target.
Based on the recent corporate insider activity of 12 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PHIO in relation to earlier this year.