Buy Rating Affirmed for Indaptus Therapeutics Amid Promising Decoy20 Clinical Advancements

Indaptus Therapeutics (INDP – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Jason McCarthy from Maxim Group maintained a Buy rating on the stock and has a $8.00 price target.

Jason McCarthy has given his Buy rating due to a combination of factors concerning Indaptus Therapeutics’ recent developments and potential. The company has reported progress in its Phase 1 study of Decoy20 for treating solid tumors, which has moved into multi-dosing following a positive review. This advancement indicates a significant step forward in the clinical development of Decoy20, as the ability to administer multiple doses is crucial for assessing the treatment’s efficacy and safety over an extended period.

Moreover, the underlying science of Decoy20, which is a modern iteration of the historical Coley’s Toxins with significantly reduced toxicity, shows promise in engaging both innate and adaptive immune responses against cancer. The recent data presented at the American Association for Cancer Research (AACR) meeting further supports the therapy’s potential, displaying its capability to activate various immune cells and demonstrate additive or synergistic effects in combination with other treatments. These findings suggest that Decoy20 could be an effective treatment for solid tumors with a manageable safety profile, justifying McCarthy’s optimistic outlook and Buy rating on Indaptus Therapeutics’ stock.

INDP’s price has also changed moderately for the past six months – from $2.570 to $2.070, which is a -19.46% drop .

TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.

Indaptus Therapeutics (INDP) Company Description:

Intec Pharma Ltd. is a clinical-stage biopharmaceutical company engaging in the development of drugs based on proprietary Accordion Pill platform technology. Its Accordion Pill technology is an oral drug delivery system that is designed to improve the efficacy and safety of existing drugs and drugs under development by utilizing an efficient gastric retention and specific release mechanism. The company was founded by Zvi Joseph in 2000 and is headquartered in Jerusalem, Israel.