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On Thursday, Ascendiant Capital analysts raised the price target for Plus Therapeutics Inc. (NASDAQ: NASDAQ:PSTV) stock to $20.50 from $20.00, while maintaining a Buy rating. The decision reflects confidence in the company’s ongoing drug development progress and future milestones expected in 2025. According to InvestingPro data, two analysts have recently revised their earnings expectations upward for the upcoming period, with price targets ranging from $4.00 to $20.50.
The analysts highlighted the company’s advancements in clinical trials, particularly for conditions such as LM, GBM, and PBC. Plus Therapeutics also anticipates the commercial launch of CNSide, marking a significant step forward in its business strategy. The company’s stock has shown significant volatility, with a notable 23% return over the past week, though it remains 85% below its 52-week high of $2.67.
Financially, Plus Therapeutics reported having $10 million in cash and no debt in the first quarter. The company also raised approximately $18 million during the same period, which the analysts believe will sustain operations into 2026.
The updated price target is based on a net present value analysis, indicating potential for significant upside from the current share price. This adjustment takes into account the high risks associated with clinical trials, balanced by the substantial market opportunities available to the company.
In other recent news, Plus Therapeutics Inc. reported its financial results for 2024, revealing grant revenues of $5.8 million, which fell short of the $6.4 million consensus estimate. The company also recorded a net loss of $1.95 per share, aligning closely with the expected $1.94 per share loss. H.C. Wainwright subsequently adjusted its price target for the company to $5.50 from $8.00, while maintaining a Buy rating. The firm anticipates total revenues of $11.4 million for 2025, with a projected net loss of $0.34 per share. Plus Therapeutics also announced progress in its CNS cancer treatment trials, with promising data from the Phase 1 ReSPECT-LM trial for Leptomeningeal Metastases, showing a Clinical Benefit Rate of 76%. Additionally, the company appointed Kyle Guse to its Board of Directors, leveraging his extensive experience in financial and legal sectors. These developments are part of Plus Therapeutics’ ongoing efforts to advance its pipeline of radiotherapeutics.
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