Leerink Partners analyst Andrew Berens has maintained their bullish stance on CELC stock, giving a Buy rating yesterday.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Andrew Berens has given his Buy rating due to a combination of factors including promising early-phase clinical trial results for Celcuity’s gedatolisib in prostate and HER2+ breast cancer. The trials demonstrated encouraging outcomes, such as a 66% landmark radiographic progression-free survival at six months in metastatic castration-resistant prostate cancer patients and a 43% overall response rate in HER2+ PIK3CA mutated metastatic breast cancer patients. These results suggest that gedatolisib could potentially offer superior efficacy compared to existing second-line treatment options.
Additionally, the safety profile of gedatolisib is favorable, with no discontinuations due to adverse events and minimal occurrences of severe hyperglycemia. The upcoming VIKTORIA-1 trial results, expected in the third quarter, are anticipated to further validate the efficacy of gedatolisib when used in combination with other treatments. These factors collectively support Berens’s optimistic outlook on Celcuity’s stock, leading to his Buy rating.
In another report released yesterday, Stifel Nicolaus also initiated coverage with a Buy rating on the stock with a $30.00 price target.