Perspective Therapeutics selloff a buying opportunity, says JonesResearch

JonesResearch analyst Justin Walsh views the selloff in shares Perspective Therapeutics (CATX) yesterday after the company reported initial results from its ongoing Phase I/IIa trial of Pb-212-VMT-alpha-NET for the treatment of unresectable or metastatic somatostatin receptor type 2 neuroendocrine tumors who have not received prior radiopharmaceutical therapies as a buying opportunity. The significant negative stock reaction was in response to perceptions that the efficacy fell short of the high expectations that were established with the asset’s performance in the investigator initiated trial in India, the analyst tells investors in a research note. However, Jones sees the results as too immature to appropriately evaluate or compare on efficacy and does not view the readout negatively. It keeps a Buy rating on Perspective with a $21 price target