William Blair analyst Matt Phipps has maintained their bullish stance on UPB stock, giving a Buy rating on October 20.
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Matt Phipps has given his Buy rating due to a combination of factors that highlight Upstream Bio, Inc.’s promising outlook. The company’s recent third-quarter financial results and the progress of its clinical trials, particularly the Phase II VALIANT study in asthma, are pivotal. The management’s clear communication of the value proposition for their drug, verekitug, and its potential efficacy comparable to Tezspire, with the added benefit of less frequent dosing, strengthens confidence in the company’s future performance.
Furthermore, the positive top-line results from the Phase II VIBRANT study in chronic rhinosinusitis with nasal polyps (CRSwNP) bolster the potential of verekitug. The recent approval of Tezspire for CRSwNP sets a benchmark that verekitug appears to meet or exceed, especially with its less frequent dosing schedule. These factors, combined with ongoing enrollment in the Phase II VENTURE trial for COPD, suggest a robust pipeline that supports the Buy rating.
In another report released on October 20, Piper Sandler also maintained a Buy rating on the stock with a $75.00 price target.