In a report released today, Mayank Mamtani from B.Riley Financial maintained PDS Biotechnology (PDSB – Research Report) to a Buy, with a price target of $14.00.
Mayank Mamtani’s Buy rating for PDS Biotechnology’s stock (PDSB) is based on a multitude of reasons. His decision is largely influenced by the recent compelling efficacy results derived from the ongoing Phase II PDS0101/Keytruda doublet VERSATILE-002 study in patients with human papillomavirus type 16 positive head and neck squamous cell carcinoma (HNSCC). These results include a 27% confirmed overall response rate, a median progression-free survival rate of 8.1 months, and an 80% 12-month overall survival rate. The study’s results were significant, particularly when compared to previous reports.
Moreover, Mamtani highlighted the consistency of the overall survival results, which has been undervalued by the market. Further supporting his rating is the translational biomarker data, such as the rapid clearance of circulating tumor DNA with PDS0101/chemoradiation. The analyst also sees potential in the company’s ability to replicate the survival benefit in the upcoming Phase III VERSATILE-003 study. Lastly, he took into account the stock’s year-to-date performance, which has been under pressure, suggesting that the current valuation provides an attractive entry point. Mamtani looks forward to the update on the survival data of the PDS0301 study and the company’s guidance on future studies.
In another report released on October 4, Oppenheimer also maintained a Buy rating on the stock with a $23.00 price target.
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PDS Biotechnology (PDSB) Company Description:
PDS Biotechnology Corp. engages in the development of clinical-stage immunotherapies to treat various early-stage and late-stage cancers, including head and neck cancer, prostate cancer, breast cancer, cervical cancer, anal cancer, and other cancers. Its products PDS0101, is an off the shelf immunotherapeutic that is administered by subcutaneous injection. The company was founded on March 15, 2019 and is headquartered in Berkeley Heights, NJ.
Read More on PDSB:
- PDS Biotech Announces Interim 24-Month Survival Rate of 74% in Immune Checkpoint Inhibitor Naïve Head and Neck Cancer Patients Treated with PDS0101 in Combination with KEYTRUDA® (pembrolizumab)
- PDS announces interim 24-month data from VERSATILE-002 Phase 2 trial of PDS0101
- PDS Biotech Announces PDS0101 Combined with Chemoradiotherapy Associated with Rapid Decline in Circulating Tumor DNA (ctDNA/cfDNA)
- PDS Biotechnology announces data on PDS0101 combined with chemoradiotherapy
- PDS Biotech to Present at the LD Micro Main Event XVI
