Alliance Global Partners lowered the firm’s price target on PDS Biotechnology (PDSB) to $5 from $16 and keeps a Buy rating on the shares after the company announced Q4 results, highlighting the upcoming clinical milestones for their immuno-oncology pipeline, including the reprioritization of a Phase 3 trial in the triple combination of Versamune plus PDS01ADC plus Merck’s (MRK) Keytruda for HPV16-positive head and neck squamous cell cancer, or HNSCC, patients. The firm, which has removed its valuation for PDS0101 in combination with Keytruda from its sum-of-the-parts analysis, values the triple combination of PDS0101, PDS01ADC and Keytruda in recurrent, metastatic HPV-positive HNSCC at $4.75 per share and net cash and tech value at 25c per share.
Protect Your Portfolio Against Market Uncertainty
- Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter.
- Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PDSB:
- Options Volatility and Implied Earnings Moves Today, March 27, 2024
- PDS Biotech Announces Clinical Strategy Update and Reports Full Year 2023 Financial Results
- Options Volatility and Implied Earnings Moves This Week, March 26 – March 28, 2024
- Is PDSB a Buy, Before Earnings?
- PDS Biotechnology Announces Conference Call and Webcast for Business Update and Full Year 2023 Financial Results