TD Cowen analyst Marc Frahm has maintained their bullish stance on RPTX stock, giving a Buy rating on October 26.
Marc Frahm of TD Cowen firm has assigned a Buy rating to Repare Therapeutics’s stock (RPTX) due to several factors. Despite reporting a net loss of $19MM in Q3, Repare Therapeutics also ended the quarter with a strong cash balance of $250MM, expected to last till 2026. Frahm was impressed by the updated data from Lunresertib’s Phase I MYTHIC trial which demonstrated significant RECIST/ORR in the combination, particularly the 50% ORR in gynecological tumors. However, he acknowledges that the anemia rates have raised concerns among investors.
Frahm anticipates additional dose optimization data and go/no-go decisions by H2:24. He noted that the Lunresertib + Camonsertib combination showed promising results across a range of tumor types, which he believes validates Repare’s SNIPRx platform. Despite the concerns about anemia, Frahm believes this to be manageable due to the adverse effect being highly responsive to short drug holidays and not causing discontinuations. He also mentioned that Repare is pursuing additional combination approaches for Lunresertib, with initial data expected in H1:24 and H2:24. These factors together have led him to maintain a positive outlook on the company’s stock.
In another report released on October 26, H.C. Wainwright also reiterated a Buy rating on the stock with a $25.00 price target.
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Repare Therapeutics (RPTX) Company Description:
Repare Therapeutics Inc is a precision oncology company engaged in discovery and development of novel therapeutics. The company use its proprietary, genome-wide, CRISPR-enabled SNIPRx platform to systematically discover and develop highly targeted cancer therapies focused on genomic instability, including DNA damage repair. Using its SNIPRx platform, it is developing pipeline of SL product candidates, including its product candidate, RP-3500, an oral small molecule inhibitor for the treatment of solid tumors with specific DNA damage repair-related genomic alterations.
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