Sean Lee CFA, an analyst from H.C. Wainwright, maintained the Buy rating on Dogwood Therapeutics. The associated price target remains the same with $12.00.
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Sean Lee CFA’s rating is based on several key considerations regarding Dogwood Therapeutics. Firstly, the company’s acquisition of SP16, a novel treatment for cancer-related pain, has influenced the financial outlook, despite resulting in a significant non-cash charge. This acquisition is seen as a strategic move to enhance Dogwood’s product pipeline, which is crucial for long-term growth.
Additionally, the upcoming interim results from the Phase 2b study of Halneuron, a promising treatment for chemotherapy-induced neuropathic pain, are anticipated to provide valuable insights into the drug’s efficacy and potential. The study’s progress and the FDA’s special protocol assessment approval for a Phase 3 trial further bolster confidence in the company’s prospects. These factors, combined with a risk-adjusted net present value analysis, underpin the Buy rating and the 12-month price target of $12.00 per share.
According to TipRanks, Lee CFA is a 3-star analyst with an average return of 3.1% and a 33.66% success rate. Lee CFA covers the Healthcare sector, focusing on stocks such as Plus Therapeutics, Dogwood Therapeutics, and Verastem.
In another report released on November 7, Maxim Group also maintained a Buy rating on the stock with a $30.00 price target.