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Eleven Biotherapeutics, Inc. (NASDAQ:EBIO), a Cambridge, Massachusetts-based developer of targeted protein therapeutics, has been showing promising clinical data for TPT-based cancer treatments.
The stock could see significant upside if later-stage bladder cancer trials set for mid-2018 prove to be successful, according to H.C. Wainwright & Co.
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The Analyst
Analyst Swayampakula Ramakanth initiated coverage of Eleven Bio with a Buy rating and $2 price target.
The Thesis
Eleven Bio’s Vicinium TPT has displayed safety and efficacy in multiple bladder cancer studies and is being evaluated through a Phase 3 VISTA study, which could prove to be a pivotal step in bladder cancer treatment, Ramakanth said in a Monday note.
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“We believe the upcoming release of results from the VISTA study could be a major catalyst for the stock.”
Vicinium, like other TPTs, provides lower immunogenicity and better stability and tumor penetration, the analyst said.
In previous Phase 1 and 2 studies, Vicinium was well-tolerated, demonstrated no dose-limiting toxicities and achieved a response rate of approximately 40 percent at three months, Rakamanth said.
Price Action
Eleven Bio was trading up 7.6 percent at $1.13 at the time of publication Tuesday.
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Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.