In a report released yesterday, Jason McCarthy from Maxim Group maintained a Buy rating on Plus Therapeutics, with a price target of $3.00.
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Jason McCarthy has given his Buy rating due to a combination of factors including Plus Therapeutics’ strategic advancements and expanding coverage for their CNSide test. The recent agreements with major insurers like Humana and UnitedHealthcare have significantly increased the coverage to 67 million lives, which is crucial for unlocking the revenue potential of CNSide.
Additionally, CNSide offers a more sensitive and informative diagnostic tool for leptomeningeal metastases compared to the current standard of care, which could lead to better treatment outcomes. Plus Therapeutics has also made strides in establishing a scalable testing infrastructure and implementing a market access strategy, which includes securing reimbursement codes and a value-based pricing framework. These efforts, alongside the promising results from the FORESEE study, position Plus Therapeutics well to capitalize on the unmet needs in the LM market.
McCarthy covers the Healthcare sector, focusing on stocks such as SCYNEXIS, Neuphoria Therapeutics, and Medicus Pharma Ltd. According to TipRanks, McCarthy has an average return of -19.0% and a 29.78% success rate on recommended stocks.