Promising Clinical Outcomes and Diagnostic Innovations Drive Buy Rating for Plus Therapeutics

Analyst Sean Lee CFA of H.C. Wainwright maintained a Buy rating on Plus Therapeutics (PSTV – Research Report), retaining the price target of $8.00.

Sean Lee CFA’s rating is based on the promising outcomes from Plus Therapeutics’ ongoing studies and its innovative diagnostic solutions. The company’s Phase 1 ReSPECT-LM study of rhenium obisbemeda for leptomeningeal metastasis (LM) has shown encouraging results, with a median overall survival rate that remains above historical norms, despite a slight decrease in the most recent data. The treatment demonstrates effectiveness particularly in patients with primary breast or lung cancer and maintains a good safety profile, which supports its potential as a viable therapeutic option.
Additionally, Plus Therapeutics’ CNSide assay has proven to be a substantial advancement as a diagnostic tool for managing LM, showing significantly higher sensitivity in detecting circulating tumor cells and influencing treatment decisions in a majority of cases. The company’s plans for the assay’s market introduction and reimbursement strategy further bolster confidence in its commercial potential. Together with a risk-adjusted net present value analysis that supports an optimistic future revenue projection, these factors underpin Sean Lee’s Buy rating for the stock.

In another report released on November 15, Maxim Group also maintained a Buy rating on the stock with a $4.00 price target.

Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PSTV in relation to earlier this year.

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Plus Therapeutics (PSTV) Company Description:

Plus Therapeutics, Inc. is a clinical-stage pharmaceutical company focused on the discovery, development, and manufacturing scale up of complex and innovative treatments for patients battling cancer and other life-threatening diseases. The proprietary nanotechnology platform is currently centered around the enhanced delivery of a variety of drugs using novel liposomal encapsulation technology. Liposomal encapsulation has been extensively explored and undergone significant technical and commercial advances since it was first developed. The lead drug product candidate in pipeline, DocePLUS™, is being developed in the U.S. by a dedicated and energetic team of biologists, chemists, engineers, and other professionals. The company was founded by Ralph E. Holmes and Christopher J. Calhoun in July 1996 and is headquartered in Austin, TX.