Analyst Gil Blum of Needham maintained a Buy rating on TScan Therapeutics (TCRX – Research Report), reducing the price target to $9.00.
Gil Blum has given his Buy rating due to a combination of factors that highlight TScan Therapeutics’ potential for growth and innovation. The company is poised to begin dosing its first multiplex TCR-T in solid tumor patients in the first half of 2025, with initial safety and efficacy data expected to provide valuable insights. Additionally, TScan is planning to start a pivotal study for TSC-101 in the second half of 2025, following a critical meeting with the FDA, with topline results anticipated in the latter half of 2027.
Moreover, an upcoming Phase I update for TSC-101 at the ASH conference is expected to shed light on the program’s durability, which is a key factor for long-term success. Financially, TScan is in a strong position, having ended 2024 with $290 million in cash, which is projected to support operations into the first quarter of 2027. Despite lowering the price target to $9 due to dilution, the overall outlook remains positive, justifying the Buy rating.
Based on the recent corporate insider activity of 6 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TCRX in relation to earlier this year.