David Martin PhD, an analyst from Bloom Burton, maintained the Buy rating on Repare Therapeutics (RPTX – Research Report). The associated price target is $29.00.
According to David Martin PhD, his buy rating for Repare Therapeutics (RPTX) is based on several factors. First and foremost, Repare has recently announced two promising new programs, the RP-1664 and the RP-3467, which are expected to enter clinical trials by 2024. The RP-1664, a potential first-of-its-kind PLK4 inhibitor, has shown considerable promise in preclinical data and is believed to be beneficial in treating tumors with TRIM37 overexpression or amplification. Martin estimates that the addressable patient population for this drug is 63,000 in the US, UK, and EU.
The RP-3467 is a polymerase theta (Pol θ) inhibitor, which has demonstrated superior potency and selectivity in its category. The drug has potential for combination with PARPi, RLTs, ADCs and chemotherapy, which together account for over $15B in annual sales. Furthermore, the firm’s ongoing trials of lunresertib and camonsertib, whose results are expected later this year and early next year, also provide confidence in the company’s potential. Another key factor is the anticipated enrollment of the first patient into camonsertib cohorts of the TAPISTRY or MORPHEUS lung trial by Roche, which would trigger a milestone payment to Repare and increase trust in Roche’s commitment to the ATRi. Repare expects this will occur before the end of 2023.
In another report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $25.00 price target.
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Based on the recent corporate insider activity of 26 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of RPTX in relation to earlier this year.
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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.
Read More on RPTX:
- Repare to advance RP-1664 and RP-3467 into Phase 1 clinical trials in 2024
- Repare Therapeutics reports Q3 EPS (45c), consensus (86c)
- Repare Therapeutics price target lowered to $25 from $30 at Piper Sandler
- Repare Therapeutics combo efficacy data looks ‘encouraging,’ says Stifel
- Repare Therapeutics announces data from Phase 1 MYTHIC clinical trial
