In a report released today, Sean Lee CFA from H.C. Wainwright maintained a Buy rating on Plus Therapeutics (PSTV – Research Report), with a price target of $5.50.
Sean Lee CFA has given his Buy rating due to a combination of factors that highlight Plus Therapeutics’ promising outlook. The company has reported a strategic financial update, including a significant private placement that enhances its cash position to $18.6 million, which is projected to support operations through the first quarter of 2026. Despite a slight miss in revenue expectations for 2024, the company’s financial health appears robust with a projected increase in revenues for 2025.
Furthermore, the impending commercial launch of the CNSide assay, which has demonstrated superior sensitivity in detecting leptomeningeal metastasis compared to standard methods, positions Plus Therapeutics for substantial growth. The assay’s ability to identify actionable mutations and its potential benefit to a large patient population underscore its market potential. Additionally, ongoing developments in the company’s LM treatment pipeline, including upcoming study updates and regulatory engagements, further bolster the long-term growth prospects, justifying the Buy rating.
Lee CFA covers the Healthcare sector, focusing on stocks such as Monopar Therapeutics Inc, Plus Therapeutics, and ThermoGenesis Holdings. According to TipRanks, Lee CFA has an average return of -3.3% and a 30.30% success rate on recommended stocks.
In another report released on March 17, D. Boral Capital also initiated coverage with a Buy rating on the stock with a $9.00 price target.