H.C. Wainwright analyst Swayampakula Ramakanth maintained a Buy rating on IN8bio (INAB – Research Report) today and set a price target of $8.00.
Swayampakula Ramakanth has given his Buy rating due to a combination of factors surrounding the performance and potential of IN8bio’s INB-100 product. The recent clinical data updates from the ongoing Phase 1 study show promising results for the treatment of AML patients, particularly those at high risk of relapse post stem cell transplantation. The data indicates that all treated AML patients have remained relapse-free for over 20 months, which is significant given the typical relapse rate for this patient population.
Furthermore, the product has demonstrated strong efficacy with a progression-free survival (PFS) and overall survival (OS) rate of 100% at the one-year mark. This is a notable improvement over historical control cohorts. The treatment has also been well-tolerated, with no major adverse effects reported. Additionally, the valuation of the company’s stock is supported by a risk-adjusted net present value analysis which suggests a 12-month price target of $8.00, considering the future revenue potential and current financial standing of the company.
In another report released yesterday, JonesTrading also upgraded the stock to a Buy with a $1.20 price target.