JMP Securities analyst Silvan Tuerkcan maintained a Buy rating on Jasper Therapeutics (JSPR – Research Report) today and set a price target of $70.00.
Silvan Tuerkcan has given his Buy rating due to a combination of factors related to Jasper Therapeutics’ promising developments. The company is advancing its drug, briquilimab, into a pivotal Phase 2b program for chronic spontaneous urticaria (CSU) by the end of 2025. The anticipated data in mid-2025 is expected to be crucial for final dose selection, supported by additional clinical insights from ongoing studies.
Furthermore, the early efficacy and tolerability of briquilimab, despite being tested on a small patient size, indicate potential. The upcoming updates, particularly those expected in mid-2025, are seen as opportunities to gain confidence in the program. The valuation disconnect following initial data is perceived as a buying opportunity, especially in light of the broader market conditions and the potential for briquilimab to address significant unmet needs in CSU and asthma.
In another report released yesterday, BMO Capital also initiated coverage with a Buy rating on the stock with a $63.00 price target.