In a report released today, David Martin PhD from Bloom Burton maintained a Buy rating on Medicenna Therapeutics Corp (MDNA – Research Report), with a price target of $6.00.
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David Martin PhD has given his Buy rating due to a combination of factors related to Medicenna Therapeutics Corp’s recent clinical trial updates. The company presented promising results from their MDNA11 Phase 1/2 ABILITY-1 study at the AACR, showing potential for a best-in-class profile. The data highlighted an increase in the objective response rate in combination therapy, which is particularly noteworthy among patients with tumors that are typically resistant to immune checkpoint inhibitors.
These encouraging results suggest that MDNA11 could be effective in treating challenging cancer types such as MSI-H, melanoma, and endometrial cancers. David Martin PhD believes that if these results hold up in larger patient groups, it could significantly support the registration path for MDNA11. This potential for positive outcomes in future studies underpins his optimistic outlook and Buy rating for the stock.
Martin PhD covers the Healthcare sector, focusing on stocks such as Knight Therapeutics, Aurinia Pharmaceuticals, and AbCellera Biologics. According to TipRanks, Martin PhD has an average return of 14.4% and a 44.28% success rate on recommended stocks.
In another report released yesterday, Research Capital also maintained a Buy rating on the stock with a C$3.75 price target.