Leerink Partners analyst Andrew Berens has maintained their bullish stance on AURA stock, giving a Buy rating today.
Andrew Berens has given his Buy rating due to a combination of factors. First, Aura Biosciences Inc. has been presenting promising updated data for their suprachoroidal (SC) delivered bel-sar in choroidal melanoma patients. The data showed a tumor control rate of 80%, down from 100% at 9 months, which is still a significant achievement. Moreover, the FDA has granted a Special Protocol Assessment (SPA) for their pivotal study, and the trial design has been finalized, with the trial expected to commence in 4Q23.
Furthermore, the company reported initial bel-sar data in bladder cancer and made the decision to advance the program. The Phase 1 bladder cancer data advanced to the light-activated phase after the injection phase was deemed safe. The resultant updates and the dilution from the equity raise have led to a lowering of the price target to $19 from $26, but Berens still maintains an Outperform rating for Aura Biosciences Inc. due to the promising developments.
Berens covers the Healthcare sector, focusing on stocks such as Seagen, AstraZeneca, and Mirati Therapeutics. According to TipRanks, Berens has an average return of -3.9% and a 41.72% success rate on recommended stocks.
In another report released today, JMP Securities also maintained a Buy rating on the stock with a $19.00 price target.
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Aura Biosciences Inc (AURA) Company Description:
Aura Biosciences Inc is a clinical-stage oncology company developing a novel technology platform based on virus-like drug conjugates to target and destroy cancer cells selectively while activating the immune system to create long lasting anti-tumor immunity.
Read More on AURA:
- Insider Trading: Aura Biosciences (NASDAQ:AURA) Bought By Insiders to the Tune of $16M
- Aura Biosciences price target lowered to $20 from $23 at Scotiabank
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- Aura Biosciences reports agreement from FDA under SPA for CoMpass trial
