H.C. Wainwright analyst Sean Lee CFA maintained a Buy rating on Plus Therapeutics today and set a price target of $2.00.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Sean Lee CFA has given his Buy rating due to a combination of factors that highlight Plus Therapeutics’ strategic advancements and potential for growth. The company is making significant progress with its Reyobiq program, particularly in the treatment of leptomeningeal metastasis (LM). Discussions with the FDA suggest a promising regulatory path, with potential for a pivotal study that could expedite the development process. This strategic focus on LM, a condition with substantial unmet medical needs, positions the company well for future clinical success.
Additionally, the recent agreement with Humana to cover the CNSide test marks a critical step in its commercialization efforts. This agreement, along with a prior one with United Healthcare, significantly expands the coverage to 67 million lives, enhancing CNSide’s market potential. The expected revenue generation from CNSide in the upcoming quarter could provide valuable insights into its commercial viability. Furthermore, the valuation of Plus Therapeutics, based on a risk-adjusted net present value analysis, supports the Buy rating, despite potential risks such as clinical and financial uncertainties.
Lee CFA covers the Healthcare sector, focusing on stocks such as Plus Therapeutics, Novavax, and Verastem. According to TipRanks, Lee CFA has an average return of 2.2% and a 33.81% success rate on recommended stocks.
In another report released on November 20, Maxim Group also maintained a Buy rating on the stock with a $3.00 price target.