H.C. Wainwright analyst Edward White has reiterated their bullish stance on SABS stock, giving a Buy rating today.
Edward White’s Buy rating for SAB Biotherapeutics is driven by a combination of factors. The recent announcement by the company regarding a private placement of up to $130M is one of the key pillars of his rating. This placement consists of the issuance and sale of preferred stock to accredited investors, with the proceeds expected to fund the SAB-142 program which is currently the company’s primary focus. The SAB-142 program is a first-in-class fully human anti-thymocyte globulin (ATG) being developed for delaying the onset of type 1 diabetes.
The gross proceeds from the private placement, if fully executed, are estimated to sustain the company financially until 2026. Additionally, it is projected to fund the top-line Phase 2 results for SAB-142. Edward White’s $2 price target is grounded on his discounted revenue forecasts for SAB-142, SAB-176, and SAB-195 through to 2030, with varying probabilities of success. His price/sales multiple of 4x is congruent with the company’s peers, estimating SAB-142 sales of $200M in 2030. This financial outlook, and the potential of SAB Biotherapeutics’ programs have contributed to White’s Buy rating.
In another report released today, Chardan Capital also maintained a Buy rating on the stock with a $3.00 price target.
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SAB Biotherapeutics (SABS) Company Description:
Blue Calypso Inc is engaged in the development, sales, delivery and licensing of technology and intellectual property focused on mobile shopper engagement, digital word of mouth and location-based marketing and advertising. Its solutions include mobile engagement, POP and merchandise tracking, mobile plant tag engagement. The company derives its revenues from the cloud-based consumption of its technology platform, consulting fees and licensing of its technologies.
Read More on SABS:
- SAB Biotherapeutics downgraded to Neutral from Buy at Ladenburg
- SAB Biotherapeutics approves appointment of Moin to board of directors
- SAB Biotherapeutics Approves Appointment of Andrew Moin to Board of Directors
- SAB Biotherapeutics Announces Private Placement of up to $130 Million to Advance Development of Lead Drug Candidate for Type 1 Diabetes
- SAB Biotherapeutics announces private placement of up to $130M
