Actinium Pharmaceuticals price target raised to $30 from $20 at Maxim

Maxim raised the firm’s price target on Actinium Pharmaceuticals (ATNM) to $30 from $20 and keeps a Buy rating on the shares following another Ac-225 acquisition with AstraZeneca (AZN) to acquire Fusion Pharma (FUSN). The firm notes that the acquisition comes amidst building momentum in the radiopharma space, in particular among alpha emitters, including the December acquisition of RayzeBio (RYZB) by Bristol Meyers (BMY) for $4.1B for its Ac-225 pipeline. Maxim also highlights Lilly (LLY) acquiring POINT Biopharma in October 2023 for $1.4B, which was centered around its pipeline of targeted beta – Lu-177 – and alpha – Ac-225 – emitting radio-pharmaceuticals. The Ac-225 focused M&A activity, which given the small number of companies in the space, places a potential “scarcity value” on Actinium, the firm argues.