Compass Therapeutics (CMPX) has received a new Buy rating, initiated by Piper Sandler analyst, Biren Amin.
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Biren Amin’s rating is based on the promising potential of Compass Therapeutics’ lead program, tovecimig, which has shown encouraging clinical results in biliary tract cancer (BTC). The Phase 2 study demonstrated significant efficacy, with metrics that suggest tovecimig could surpass existing treatment options, thus offering a strong case for regulatory approval. The anticipated data readout from the pivotal Phase 2/3 COMPANION-002 trial is expected to act as a catalyst for the stock.
Additionally, the company’s pipeline includes compelling programs such as tovecimig in colorectal cancer (CRC) and other innovative therapeutics like CTX-471 and CTX-8371. These programs, along with their strategic development plans, contribute to the optimism surrounding Compass Therapeutics’ growth potential. Biren Amin considers these factors, alongside the potential market opportunities and early clinical success, as key reasons for the Buy rating.
In another report released on February 10, Jefferies also maintained a Buy rating on the stock with a $8.00 price target.