H.C. Wainwright analyst Matthew Keller reiterated a Buy rating on Phio Pharmaceuticals today and set a price target of $14.00.
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Matthew Keller has given his Buy rating due to a combination of factors surrounding Phio Pharmaceuticals’ recent clinical and financial updates. The company has reported promising results from its Phase 1b trial of PH-762 in treating skin cancer, particularly cutaneous squamous cell carcinoma. The trial has shown significant tumor clearance in patients, with no dose-limiting toxicities or adverse effects, indicating strong anti-tumoral activity and good tolerability of the treatment.
Additionally, Phio Pharmaceuticals’ financial position appears stable, with a cash balance expected to support operations into the first half of 2027. The company’s recent financial results were slightly better than expected, and the successful exercise of common stock warrants has further bolstered its cash reserves. These factors collectively support the potential for continued clinical progress and justify a Buy rating for the stock.
Based on the recent corporate insider activity of 14 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.