Leerink raised the firm’s price target on Celcuity (CELC) to $60 from $28 and keeps an Outperform rating on the shares. The firm notes the company reported topline data for the gedatosilib VIKTORIA-1 trial in the cohort of HR+ HER2- metastatic breast cancer patients wild-type disease, demonstrating what Leerink views as best in class efficacy with favorable safety/tolerability. Given the strength of these data in the ITT population and the further step up in efficacy anticipated in the PI3Ka MT cohort, the firm thinks gedatosilib will likely become a key standard of care across both mutational subgroups and wild-type patients.
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