Reni Benjamin, an analyst from JMP Securities, maintained the Buy rating on BioAtla (BCAB – Research Report). The associated price target is $1.00.
Reni Benjamin has given his Buy rating due to a combination of factors that suggest potential upside for BioAtla. Despite the reduction in the price target, the company’s strategic workforce reduction has extended its cash runway, providing financial stability until the first half of 2026. The anticipation of initial data for the BA3182 asset by mid-2025, coupled with observed anti-tumor activity, indicates promising developments that could enhance investor confidence.
Furthermore, ongoing partnership discussions for other assets, such as Evalstotug, present additional opportunities for non-dilutive capital influx. The reported financials for the fourth quarter of 2024, with lower-than-expected R&D and SG&A expenses, alongside a better-than-anticipated EPS, reinforce a positive outlook. These elements collectively contribute to the belief that BioAtla’s shares have the potential to rebound, particularly if favorable data or partnerships materialize.