H.C. Wainwright analyst Sean Lee CFA maintained a Buy rating on Plus Therapeutics today and set a price target of $1.00.
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Sean Lee CFA has given his Buy rating due to a combination of factors related to Plus Therapeutics’ key assets Reyobiq and CNSide. He views the newly assigned AMA Category III CPT code for convection-enhanced delivery of Reyobiq as a strategic step that, while not immediately accretive, should streamline future billing, enable real-world utilization tracking, and support reimbursement groundwork ahead of potential approval.
Looking ahead, Lee highlights multiple 2026 catalysts, including expected reimbursement coverage expansion for CNSide, new CSF tumor tests, and pivotal trial planning and readouts for Reyobiq in GBM, leptomeningeal metastasis, and pediatric brain cancers. His $1.00 target price is based on a risk-adjusted NPV of projected Reyobiq and CNSide revenues plus expected net cash, and he believes the upside potential outweighs clinical, commercial, partnership, financial, and IP risks at current levels.