Dennis Kennedy, an analyst from LifeSci Capital, reiterated the Buy rating on Perspective Therapeutics (CATX – Research Report). The associated price target remains the same with $17.00.
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.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Dennis Kennedy has given his Buy rating due to a combination of factors, primarily focusing on the promising developments in Perspective Therapeutics’ ongoing clinical trials. The updated data from the Phase 1/2a trial of their Pb-212 based radioligand therapy, VMT-α-NET, showcased encouraging results, particularly in patients with SSTR2+ neuroendocrine tumors. The trial demonstrated an increase in the number of patients achieving an objective response, with four out of seven patients in the 5.0 mCi cohort showing positive outcomes.
The safety profile of VMT-α-NET is another significant factor contributing to the Buy rating. The therapy has shown a favorable safety profile with no dose-limiting toxicities, no severe adverse events, and only a small percentage of patients experiencing Grade 3 treatment-emergent adverse events. Additionally, there were no serious kidney injuries reported, which is a common concern with such treatments. These factors, combined with the growing confidence and excitement among investigators, suggest a strong potential for the therapy’s success, despite being behind a key competitor in clinical development.
In another report released today, Oppenheimer also reiterated a Buy rating on the stock with a $15.00 price target.
Based on the recent corporate insider activity of 15 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CATX in relation to earlier this year.