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HC Wainwright Sees Over 300% Upside In This Cancer-Focused Stock

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  • HC Wainwright has initiated Theseus Pharmaceuticals Inc (NASDAQ: THRX) with a Buy rating and a price target of $22 (310% upside).

  • The analysts see gastrointestinal stromal tumors (GISTs) treatment space reigniting with the entrance of a Theseus' pan-KIT inhibitor THE-630, with a high likelihood of 5L approval with earlier line potential.

  • The analysts believe THE-630 can adequately tackle resistance in GIST by using dynamic molecular touchpoints that aim to ensure retention of inhibition.

  • Related: Analysts See Huge Upside In This Newly Listed Biopharma Stock.

  • HC Wainwright believes proprietary predictive resistance assay (PRA), a novel cell-based drug screening platform sets Theseus' approach apart.

  • THE-630 is currently being evaluated in a Phase 1 trial for GIST, with an initial readout expected in 1H23.

  • The analysts are optimistic about THE-630 demonstrating preliminary objective response rate signals based on THE-630's performance in preclinical studies.

  • The analysts note that Theseus' PRA platform has already generated multiple promising tyrosine kinase inhibitor candidates for its EGFRi program, with a planned final nomination in 3Q22.

  • Price Action: THRX shares are down 1.99% at $5.42 during the market session on the last check Friday.

Latest Ratings for THRX

Date

Firm

Action

From

To

Nov 2021

Cantor Fitzgerald

Initiates Coverage On

Overweight

Nov 2021

Wedbush

Initiates Coverage On

Outperform

Nov 2021

SVB Leerink

Initiates Coverage On

Outperform

View More Analyst Ratings for THRX

View the Latest Analyst Ratings

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