TransCode Therapeutics (RNAZ – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Emily Bodnar from H.C. Wainwright maintained a Buy rating on the stock and has a $20.00 price target.
Emily Bodnar’s rating is based on the promising developments observed in TransCode Therapeutics’ ongoing clinical trials. The Phase 1 trial of TTX-MC138 has shown a rapid patient enrollment rate and, importantly, no significant safety issues have been reported so far. This is significant given the novel mechanism of action and target of the drug. The dosing in Cohort 3 has been completed with three patients at a dose that is double that of Cohort 2, and early data suggests potential therapeutic effects.
Additionally, the drug has demonstrated a substantial inhibition effect on its target, miRNA-10b, even at low doses, which indicates its potency. The early results have shown increased activity in Cohort 2 compared to Cohort 1, pointing to a favorable pharmacokinetic profile. The company is actively evaluating the drug’s effects on various metastatic solid tumors, with initial data anticipated in 2025. These promising clinical developments and the potential for dose expansion contribute to the Buy rating recommendation.
Bodnar covers the Healthcare sector, focusing on stocks such as Agenus, Imunon, and Atossa Therapeutics. According to TipRanks, Bodnar has an average return of 1.6% and a 27.78% success rate on recommended stocks.
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