Analyst Mara Goldstein of Mizuho Securities maintained a Buy rating on eFFECTOR Therapeutics (EFTR – Research Report), with a price target of $7.00.
Mara Goldstein’s Buy rating for eFFECTOR Therapeutics (EFTR) is predicated on a combination of the recent FDA Fast Track Designation for the company’s zotatifin triplet combination therapy and the promising data already shown in clinical settings. The designation is particularly significant because it acknowledges the potential of EFTR’s approach to treating ER+/HER2- breast cancer, as evidenced by a 26% objective response rate in a late-stage metastatic disease setting. This regulatory milestone not only reinforces the credibility of eFFECTOR’s therapeutic strategy but also facilitates more frequent interactions with the FDA, which could expedite the development process.
Furthermore, the anticipation for upcoming data presentations adds to the positive outlook, with critical meetings with the FDA expected in the first quarter of 2024 to discuss the regulatory pathway. Additionally, while capital remains a concern for EFTR, the current financial resources are expected to support the company until the recommended Phase II dose is identified in early 2024. This timeline suggests that there might be opportunities for the company to secure additional funding, which could further bolster investor confidence and support the advancement of the therapy through the clinical pipeline.
According to TipRanks, Goldstein is an analyst with an average return of -8.0% and a 29.82% success rate. Goldstein covers the Healthcare sector, focusing on stocks such as Merck & Company, Adaptimmune Therapeutics, and Iovance Biotherapeutics.
In another report released on November 14, H.C. Wainwright also reiterated a Buy rating on the stock with a $5.00 price target.
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eFFECTOR Therapeutics (EFTR) Company Description:
Locust Walk Acquisition Corp is a blank check company.
Read More on EFTR:
- eFFECTOR Therapeutics receives Fast Track Designation for zotatifin combination
- eFFECTOR to Present New Clinical Data from Dose Escalation and Phase 2 Expansion Cohorts of Zotatifin in Patients with ER+ Metastatic Breast Cancer at SABCS 2023 Annual Meeting
- eFfector Therapeutics reports Q3 EPS (13c), consensus (12c)
- eFFECTOR Therapeutics Reports Third Quarter 2023 Financial Results and Provides Corporate Update
- Effector Therapeutics, Inc. (EFTR) Q3 Earnings Cheat Sheet
