In a report released today, Joseph Pantginis from H.C. Wainwright reiterated a Buy rating on Lisata Therapeutics (LSTA – Research Report), with a price target of $15.00.
Joseph Pantginis has given his Buy rating on Lisata Therapeutics due to various factors. The company reported stronger than expected 3Q23 financial results, with an EPS of ($0.65) compared to the anticipated ($0.92). Further, Lisata ended the quarter with a solid cash balance of $54.4 million, which is projected to cover the costs for all ongoing and proposed clinical trials up until early 2026. This strong financial standing certainly contributes to the positive outlook for the company.
In addition, Lisata’s progress in the clinical development of its lead asset, LSTA1, has been noteworthy. The asset is currently the subject of several planned and active Phase 1b/2a and 2b global clinical studies in various solid tumors. The company has made significant advancements in the initiation and progression of new clinical development programs during the last quarter. This progress has paved the way for a steady flow of news throughout 2024. Furthermore, high enrollment levels in key studies such as ASCEND and BOLSTER, along with the expected completion of enrollment in the CENDIFOX and iLSTA trials, add to the positive outlook for Lisata Therapeutics, hence the Buy rating.
Pantginis covers the Healthcare sector, focusing on stocks such as PDS Biotechnology, Cytokinetics, and Ligand Pharma. According to TipRanks, Pantginis has an average return of -12.8% and a 24.55% success rate on recommended stocks.
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Lisata Therapeutics (LSTA) Company Description:
Caladrius Biosciences, Inc. is a biopharmaceutical company, which engages in developing products in cardiovascular and autoimmune disease that have the potential to restore the health of people with chronic illnesses. Its product pipeline includes CLBS12, CLBS14, and CLBS03. The company was founded on September 18, 1980 and is headquartered in Basking Ridge, NJ.
Read More on LSTA:
- LSTA Earnings this Week: How Will it Perform?
- Lisata Therapeutics to Host Third Quarter 2023 Financial Results Conference Call on Thursday, November 2nd at 4:30 p.m. Eastern Time
- Lisata announce first patient treated in cholangiocarcinoma cohort
- Lisata Therapeutics Announces First Patient Treated in the Cholangiocarcinoma Cohort of the BOLSTER Trial of LSTA1, a Novel Tumor-Targeting and Penetrating Peptide
- Lisata Therapeutics Announces European Medicines Agency Has Granted LSTA1 Orphan Drug Designation for the Treatment of Pancreatic Cancer
