Maxim Group analyst Jason McCarthy maintained a Buy rating on Indaptus Therapeutics (INDP – Research Report) on March 14 and set a price target of $5.00.
Jason McCarthy has given his Buy rating due to a combination of factors including the promising progress of Indaptus Therapeutics’ ongoing Phase 1 study for Decoy20, which is being tested in solid tumors. The study has shown a positive safety and pharmacokinetic profile, with broad immune responses observed in patients enrolled in the weekly dosing cohort. This is significant given the historical challenges associated with bacterial-based therapies, and Decoy20’s approach appears to mitigate these issues by reducing the toxic lipopolysaccharides.
Moreover, Indaptus has secured financial stability with recent equity financing and a $20 million equity line of credit, providing a runway into the second quarter of 2025. The upcoming combination study with BeiGene’s PD-1 inhibitor, expected later this year, further enhances the potential for positive outcomes. These factors collectively contribute to McCarthy’s optimistic outlook on the stock, warranting a Buy recommendation.
According to TipRanks, McCarthy is an analyst with an average return of -19.2% and a 25.66% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Medicus Pharma Ltd, SELLAS Life Sciences Group, and Mesoblast.
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