Cue Biopharma: A Strong Buy on Clinical Breakthroughs and Strategic Financial Positioning

Analyst Reni Benjamin of JMP Securities reiterated a Buy rating on Cue Biopharma (CUE – Research Report), with a price target of $15.00.

Reni Benjamin has given his Buy rating due to a combination of factors, including Cue Biopharma’s promising clinical advancements and its strategic financial position. The analyst underscores the positive progress of CUE-101, moving towards a registrational path in combination with pembrolizumab, showing a notable objective response rate particularly in patients with low PD-L1 expression. This performance suggests a significant improvement over existing therapies and aligns with the FDA’s direction for a combination treatment approach. Additionally, Cue Biopharma’s unveiling of the CUE-500 series with potential in autoimmune treatments and the partnership with Ono Pharmaceuticals contribute to the company’s strong investment profile. With a sound cash position, the company is well-poised for continued development and potential market growth.
Furthermore, the financial figures from the fourth quarter of 2023, despite being a mixed bag in terms of revenue and expenses, do not detract from the company’s overall potential. Cue Biopharma’s research and development strategies, including the expected presentation of comprehensive data for CUE-102 at ASCO 2024, exemplify the company’s robust pipeline and commitment to addressing unmet medical needs in oncology. The impressive in vitro efficacy demonstrated by the CUE-500 series further bolsters the optimism for Cue Biopharma’s future. Reni Benjamin’s analysis suggests that the company’s upside potential substantially outweighs the downside risks, painting a picture of a biopharmaceutical firm on the cusp of significant breakthroughs and meriting the Buy rating.

In another report released today, Stifel Nicolaus also maintained a Buy rating on the stock with a $8.00 price target.

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Cue Biopharma (CUE) Company Description:

Cue Biopharma, Inc. is a biopharmaceutical company, which engages in the development of a novel and proprietary class of biologic drugs for the selective modulation of the human immune system to treat a broad range of cancers and autoimmune disorders. Its pipeline includes Immuno-oncology, CUE-100 framework, CUE-200 framework, and autoimmune disease. The company was founded on December 31, 2014 and is headquartered in Cambridge, MA.