Andrew Berens, an analyst from Leerink Partners, maintained the Buy rating on Aura Biosciences Inc (AURA – Research Report). The associated price target is $19.00.
Andrew Berens has given his Buy rating due to a combination of factors including Aura Biosciences Inc’s promising pipeline developments and solid financial positioning. Berens acknowledges the progress of AURA’s ongoing Phase 1 study in bladder cancer, with expectations to present compelling data by mid-2024. The potential of the therapy to enable first-line treatment while potentially circumventing the need for more aggressive later-line treatments is particularly notable. This innovative approach may significantly impact the treatment landscape for bladder cancer, offering a new avenue for patient care.
Furthermore, the company’s other clinical trials, like the pivotal Phase 3 CoMpass trial in small choroidal melanoma and indeterminate lesions, along with the final Phase 2 results for suprachoroidal bel sar expected by the end of 2024, underscore the breadth of AURA’s research endeavors. Berens’s optimism is further buoyed by the company’s strong financial health, with sufficient capital to fund operations into the second half of 2026, which mitigates near-term financial risk and supports the company’s ambitious research programs. These factors collectively underpin Berens’s Buy rating, as he sees a favorable outlook for the company’s stock based on these anticipated milestones and financial stability.
In another report released yesterday, Scotiabank also reiterated a Buy rating on the stock with a $20.00 price target.
Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AURA in relation to earlier this year.
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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.
