In a report released today, Oliver McCammon from LifeSci Capital maintained a Buy rating on Perspective Therapeutics, with a price target of $13.00.
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Oliver McCammon has given his Buy rating due to a combination of factors that highlight the potential of Perspective Therapeutics’ VMT-α-NET treatment for neuroendocrine tumors (NETs). The recent data presented at ESMO in Berlin from the Phase 1/2a study showed promising results, particularly with a confirmed objective response rate (ORR) of 35% among patients with at least nine months of follow-up. This indicates a positive response to the 5.0 mCi dose of VMT-α-NET, which is significant for patients who are naive to peptide receptor radionuclide therapy (PRRT).
Despite the data not fully meeting investor expectations regarding ORR, Oliver McCammon maintains a positive long-term outlook for Perspective Therapeutics. The potential for improved efficacy with future follow-up data at higher doses, such as 6.0 mCi, supports this view. Additionally, the company’s financial position, with a cash runway of approximately 2.4 years and a manageable annualized cash burn, provides a stable foundation for continued development. Consequently, the 12-month price target has been set at $13 per share, reinforcing the Buy recommendation.
According to TipRanks, McCammon is a 5-star analyst with an average return of 89.5% and a 68.18% success rate. McCammon covers the Healthcare sector, focusing on stocks such as Celcuity, Perspective Therapeutics, and Corbus Pharmaceuticals.
In another report released today, Oppenheimer also reiterated a Buy rating on the stock with a $14.00 price target.