雅虎香港財經 This Cancer Focused Stock Has 60% Potential Upside, Bullish Analyst Says
HC Wainwright initiated coverage on Rain Therapeutics Inc (NASDAQ: RAIN), with a price target of $10 with a Buy rating.
With an upside of almost 60%, the analyst believes Rain's lead asset, milademetan, has the potential to become a tumor-agnostic therapy for MDM2 amplified cancers.
Milademetan, in-licensed from Daiichi Sankyo (OTC: DSNKY) in 2020, is an oral MDM2 inhibitor that reactivates the tumor suppressor gene, p53.
P53 is a key regulator of various cellular processes, including the cell cycle, DNA repair, and apoptosis.
Milademetan could address p53 inactivation across multiple p53 wild-type (WT) tumor types, representing about 50% of all cancers.
Rain is conducting a Phase 3 MANTRA trial in patients with well-differentiated / de-differentiated liposarcoma.
Since the primary endpoint is based on a doubling of PFS, we believe Rain's Phase 1 data de-risks the upcoming Phase 3 data, slated for release in 1H23, writes HC Wainwright.
The analyst conservatively projects that milademetan could have a peak annual sales potential of nearly $1 billion from liposarcoma, non-small cell lung cancer (NSCLC), and breast cancer indications.
Price Action: RAIN shares are up 12.60% at $6.42 on the last check Monday.
Latest Ratings for RAIN
Date | Firm | Action | From | To |
|---|---|---|---|---|
May 2021 | Guggenheim | Initiates Coverage On | Buy | |
May 2021 | Piper Sandler | Initiates Coverage On | Overweight | |
May 2021 | Goldman Sachs | Initiates Coverage On | Buy |
View More Analyst Ratings for RAIN
View the Latest Analyst Ratings
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