Soumit Roy, an analyst from JonesTrading, maintained the Buy rating on Bolt Biotherapeutics (BOLT – Research Report). The associated price target is $5.00.
Soumit Roy has given his Buy rating due to a combination of factors concerning Bolt Biotherapeutics’ clinical advancements and financial position. His confidence is particularly buoyed by the absence of dose-limiting toxicities in the initial dosing cohorts for their dectin-2 agonist, BDC-3042. Moreover, the anticipation of multiple data updates from ongoing Phase 2 trials in the second half of 2024 serves as a positive catalyst for the stock. These trials include studies of the HER2-targeting Boltbody ISAC, trastuzumab imbotolimod (BDC-1001), as monotherapy and in combination with other drugs across various cancer indications. Roy’s optimism is also underpinned by the company’s robust cash position, which should sustain operations through late 2025.
Roy’s valuation model is based on a comprehensive analysis that includes discounted cash flow (DCF), net present value (NPV), and price-to-earnings (PE) ratios, leading to a $5 price target. This target contemplates conservative estimates regarding peak sales and incorporates a cautious probability of success. Despite acknowledging the inherent risks of clinical failure, safety concerns, and competitive pressures, Roy appears to have faith in the company’s potential to deliver significant clinical activity and navigate the complex treatment landscape. His rating reflects the balance between Bolt Biotherapeutics’ clinical promise and the financial acumen to support its research endeavors.
In another report released on March 22, H.C. Wainwright also reiterated a Buy rating on the stock with a $8.00 price target.
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Bolt Biotherapeutics (BOLT) Company Description:
Bolt Biotherapeutics Inc is a clinical-stage immuno-oncology company. It is developing tumor-targeted therapies that leverage the power of the innate and adaptive immune systems.
