Analyst Robert Burns of H.C. Wainwright reiterated a Buy rating on Y-Mabs Therapeutics (YMAB – Research Report), with a price target of $11.00.
Robert Burns’ Buy rating for Y-Mabs Therapeutics is based on a multitude of factors. Despite a 4% decline in 3Q23 sales of the product DANYELZA compared to 2Q23, the product was shipped to an increased number of cancer centers during the same period. Moreover, DANYELZA accounted for 15% of the U.S. anti-GD2 market by 3Q23. The company’s R&D and SG&A expenses were also slightly lower than previous estimates for 3Q23.
Burns also considered the company’s updated 2023 financial guidance which predicts DANYELZA revenues of $80-85M. The company is also expected to have operational runway into 2027, with 3Q23 ending with approximately $86.6M in cash and cash equivalents. Additionally, Burns anticipates several upcoming catalysts including the initiation of new trials and data readouts for various treatments. His valuation also took into account a DCF-based methodology, predicting a market value for the firm of $499M, or a price objective of $11 per share.
In another report released on November 13, BMO Capital also maintained a Buy rating on the stock with a $15.00 price target.
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Y-Mabs Therapeutics (YMAB) Company Description:
Y-mAbs Therapeutics, Inc. is a clinical-stage biopharmaceutical company. It develops novel antibody therapeutics for oncology targets. The company’s services include discovery, protein engineering, clinical and regulatory. Y-mAbs Therapeutics was founded by Thomas Gad in April 2015 and is headquartered in New York, NY.
Read More on YMAB:
- Y-mAbs Therapeutics sees FY23 DANYELZA revenue $80M- $85M, consensus $83.67M
- Y-mAbs Therapeutics reports Q3 EPS (18c), consensus (19c)
- YMAB Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Y-mAbs to Announce Third Quarter 2023 Financial and Operating Results on November 13, 2023
- Y-mAbs Therapeutics appoints Michael Rossi as CEO
