In a report released today, Oliver McCammon from LifeSci Capital maintained a Buy rating on Aura Biosciences Inc, with a price target of $23.00.
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Oliver McCammon has given his Buy rating due to a combination of factors related to Aura Biosciences’ promising developments and strategic initiatives. The company’s Phase 3 CoMpass trial for early-stage choroidal melanoma is progressing well, with active enrollment and a robust pre-screening process. This trial is crucial as it is registration-enabling and has already registered over 240 patients globally, indicating strong momentum towards completion.
Additionally, Aura is expanding its ocular oncology pipeline by advancing bel-sar for two more indications, potentially establishing a significant ocular oncology franchise. The ongoing Phase 2 trial for metastases to the choroid is also noteworthy, as it is broadening its inclusion criteria to encompass various solid tumors, which could lead to valuable clinical insights and expand treatment opportunities. These strategic moves, coupled with Aura’s financial metrics, support McCammon’s positive outlook on the company’s stock.
McCammon covers the Healthcare sector, focusing on stocks such as Celcuity, Janux Therapeutics Inc, and Aura Biosciences Inc. According to TipRanks, McCammon has an average return of 59.6% and a 44.44% success rate on recommended stocks.