- Jefferies initiated coverage of Theseus Pharmaceuticals Inc (NASDAQ:THRX) with a Buy rating and $23 price target, seeing an upside of approximately 32%.
- The company’s lead asset, THE-630, is derisked with clinical validation that has shown potent anti-tumor activity in animal models, says analyst Maury Raycroft.
- THE-630 is first being targeted for Gastrointestinal Stromal Tumors, which is a $6 billion global market opportunity, Raycroft noted.
- Wedbush initiated coverage of Theseus with an Outperform rating and a $24 price target, an upside of 38%.
- Analyst David Nierengarten notes that the company’s development approach is differentiated, pointing out that its cell-based assay is a core part of Theseus’ development efforts.
- Cantor Fitzgerald initiated coverage of Theseus with an Overweight rating and a $25 price target, suggesting a 43% upside.
- Analyst Alethia Young believes that the Theseus management team has unique expertise in differentiated kinase development and has an FDA-approved drug track record of supporting it.
- She thinks THE-630 has potential for a quick-to-market strategy in 5L GIST, with the potential for development in earlier lines.
- SVB Leerink analyst Andrew Berens initiated coverage on Theseus with an Outperform rating with a price target of $28, implying 61% upside.
- The FDA signed off Theseus’ investigational new drug application for THE-630 for gastrointestinal stromal tumors (GIST).
- The company will initiate the Phase 1/2 trial, with dose escalation and expansion portion to start between late Q4 of 2021 and mid-Q1 of 2022.
- Price Action: THRX shares are up 1.52% at $17.38 during the market session on the last check Monday.
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