Jefferies assumed coverage of Point Biopharma (PNT) with a Buy rating and price target of $14, up from $12. The company is developing and supplying next-gen radioligands for “well-validated” cancer targets, says the firm, which sees lead asset 177Lu-PNT2002 having “high 75%-plus” odds of success in of generating robust Phase 3 data in mCRPC prostate cancer in the second half of this year. If this is the case, it could move Point’s stock “25% (or more)” and open up a $1B-plus opportunity for partner Lantheus (LNTH) to commercialize in 2025, the analyst added.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on PNT:
- POINT Biopharma and AdvanCell to Collaborate in the Development of Lead-212-Labeled Radioligands
- Point Biopharma, AdvanCell partner to develop radioligands
- Point Biopharma announces publication of preclinical data on PNT2004 program
- POINT Biopharma Expands Its Research with Next-Generation Isotopes, Publishing New Preclinical Data at SNMMI’s Annual Congress
- Point Biopharma price target raised to $16 from $14 at Piper Sandler