Joel Beatty, an analyst from Robert W. Baird, maintained the Buy rating on Leap Therapeutics (LPTX – Research Report). The associated price target is $11.00.
Geoff Meacham has given his Buy rating due to a combination of factors that suggest a promising future for Leap Therapeutics, particularly in the area of gastric cancer treatment. Despite mixed results in colorectal cancer (CRC), the data from Leap’s DKN-01 trials in gastric cancer appear more compelling, indicating a stronger mechanistic rationale for its effectiveness in this area. Furthermore, the anticipation of phase 2b topline results from the DisTinGuish study, expected around mid-year, presents a potential upside for the stock if the outcomes are positive, surpassing Baird’s price target.
While acknowledging some uncertainty around the efficacy of DKN-01 in CRC, particularly due to its varied response in patients with left-sided tumors and those naive to bevacizumab treatment, the focus remains on the upcoming results for gastric cancer. Beatty’s analysis suggests that the success of DKN-01 in the ongoing gastric cancer study could represent a significant breakthrough for Leap Therapeutics, creating a buying opportunity ahead of these pivotal results. The balance of risk and reward, with the potential for a substantial increase in stock value should the data prove favorable, underpins the Outperform rating assigned to Leap Therapeutics.
In another report released on January 24, H.C. Wainwright also maintained a Buy rating on the stock with a $7.00 price target.
See today’s best-performing stocks on TipRanks >>
TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.
Leap Therapeutics (LPTX) Company Description:
Leap Therapeutics, Inc. is a clinical stage biopharmaceutical company, which engages in developing novel therapies designed to treat patients with cancer. Its clinical stage programs are DKN-01 and TRX518. The company was founded on January 3, 2011 and is headquartered in Cambridge, MA.
Read More on LPTX:
