H.C. Wainwright analyst Swayampakula Ramakanth has maintained their bullish stance on ACTU stock, giving a Buy rating on July 18.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Swayampakula Ramakanth’s rating is based on promising developments in Actuate Therapeutics’ clinical trials, particularly with their lead candidate, elraglusib, in treating Ewing sarcoma. The completion of the Phase 1 trial showed encouraging results, with some patients achieving complete responses, which is significant given the refractory nature of the disease. This positive outcome has prompted the company to plan a Phase 2 study, which could further validate elraglusib’s efficacy and potentially lead to regulatory approval.
Furthermore, the valuation of Actuate Therapeutics is supported by a risk-adjusted net present value analysis, considering projected future revenues from elraglusib. The analysis incorporates a 12% discount rate and accounts for the company’s cash reserves, leading to a 12-month price target of $20.00 per share. Despite inherent risks such as financial, clinical, and regulatory challenges, the potential upside from successful trials and market approval justifies the Buy rating.
According to TipRanks, Ramakanth is a 4-star analyst with an average return of 4.4% and a 39.44% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Corcept Therapeutics, Ocugen, and Unicycive Therapeutics.