On Monday, H.C. Wainwright maintained its Buy rating and a price target of $4.00 for Assertio Therapeutics shares (NASDAQ:ASRT), suggesting significant upside potential for the $88 million market cap company. According to InvestingPro data, the stock is currently trading below its Fair Value, with analysts setting targets ranging from $2.15 to $4.00.
The firm's stance follows Assertio Holdings' recent announcement of clinical trial results for ROLVEDON (eflapegrastim-xnst) injection. The trial focused on the drug's same-day dosing alongside chemotherapy in patients with early-stage breast cancer (ESBC).
The study, identified as NCT04187898, was an open-label, single-arm trial conducted at 13 U.S. sites. Participants were administered ROLVEDON 30 minutes after receiving chemotherapy for ESBC. Findings from the trial indicated a neutrophil count recovery time of 1.8 days and a febrile neutropenia rate of 2%.
The company maintains a strong financial health score of "GOOD" on InvestingPro, with an impressive gross profit margin of 70% and a healthy current ratio of 2.01. Notably, no hospitalizations or interventions were required for febrile neutropenia, and no new safety issues emerged.
The results were shared at the San Antonio Breast Cancer Symposium (SABCS), an event presented by the American Association of Cancer Research (AACR) and the University of Texas Health Science Center at San Antonio. The data highlighted ROLVEDON's performance, which aligned with expectations, showcasing its potential advantages within the granulocyte colony-stimulating factor (G-CSF) drug class.
The analyst from H.C. Wainwright highlighted the convenience and dosing flexibility of ROLVEDON, particularly its same-day dosing capability. This feature was seen as an incremental but potentially significant commercial differentiator.
The reiteration of the Buy rating and 12-month price target reflects the firm's positive outlook on Assertio Therapeutics' prospects based on these clinical outcomes. InvestingPro subscribers can access 7 additional investment tips and a comprehensive Pro Research Report for deeper insights into ASRT's valuation and growth potential.
In other recent news, Assertio Holdings reported encouraging results from its Rolvedon clinical trial for early-stage breast cancer. The trial, conducted across 13 U.S. sites, demonstrated an average of 1.8 days to neutrophil count recovery and a febrile neutropenia rate of 2%.
Assertio's third-quarter financial results for 2024 showed revenues of $29.2 million and a net loss of $0.03 per share, outperforming analysts' expectations. The company's gross margins also improved to 74% in the third quarter.
In other developments, Beam Therapeutics announced the appointment of Sravan K. Emany as Chief Financial Officer. Emany's vast experience from Ironwood Pharmaceuticals (NASDAQ:IRWD) is expected to be instrumental in Beam's capital formation and allocation strategy.
Assertio's leadership also underwent changes with Heather Mason stepping in as the new Chairwoman of the Board. These are recent developments in the ongoing efforts of both Assertio and Beam Therapeutics.
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