In a report released today, Gil Blum from Needham maintained a Buy rating on TScan Therapeutics, with a price target of $6.00.
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Gil Blum has given his Buy rating due to a combination of factors that reflect confidence in TScan Therapeutics’ potential despite recent challenges. The company recently faced a setback in their Phase I study of TSC-101 due to manufacturing issues, which led to a dip in activity and a delay in timelines. However, TScan has taken steps to address these challenges by amending their manufacturing process to improve the fitness of the infused cells and plans to further validate this with additional patient dosing.
Blum remains optimistic about the potential of TSC-101, particularly in addressing the significant unmet need in relapse mortality for myeloid malignancies, such as AML/MDS. The analyst acknowledges the minimal clinical advancements in this area and sees TScan’s efforts as promising. Despite the current hurdles, the Buy rating is maintained with a target price of $6, reflecting confidence in the company’s strategic adjustments and future prospects.
Blum covers the Healthcare sector, focusing on stocks such as Autolus Therapeutics, Nurix Therapeutics, and Rocket Pharmaceuticals. According to TipRanks, Blum has an average return of 8.2% and a 40.36% success rate on recommended stocks.
In another report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $7.00 price target.