William Blair analyst Matt Phipps has maintained their bullish stance on UPB stock, giving a Buy rating on August 26.
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Matt Phipps has given his Buy rating due to a combination of factors surrounding the recent clinical trial results for Upstream Bio, Inc.’s drug, verekitug. The Phase II VIBRANT trial demonstrated a significant improvement in nasal polyp score (NPS) for patients with chronic rhinosinusitis with nasal polyps (CRSwNP), aligning closely with results from a similar drug, Tezspire. This alignment suggests that verekitug is on par with existing treatments, which is a positive indicator for its market potential.
Furthermore, the trial’s sensitivity analysis indicated that the efficacy of verekitug could potentially exceed that of Tezspire when accounting for patients who required rescue steroids. This suggests a competitive edge for Upstream Bio in the treatment landscape. Additionally, the upcoming Phase II asthma trial is expected to further highlight the drug’s potential, especially given its extended dosing schedule and applicability to a broader patient population. These factors collectively contribute to the positive outlook and Buy rating for Upstream Bio’s stock.
In another report released on August 26, Piper Sandler also maintained a Buy rating on the stock with a $75.00 price target.