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On Wednesday, B.Riley initiated coverage on Radiopharm Theranostics (NASDAQ:RADX), a company specializing in the development of radiopharmaceutical assets for therapeutic and imaging purposes, with a Buy rating and a 12-month price target of $15.00 per share. With a current market capitalization of $45.47 million and a year-to-date return of 30.32%, the company has shown strong momentum. The firm’s analysts highlighted the potential of Radiopharm Theranostics’ clinical-stage pipeline, which they believe is currently undervalued by the market. InvestingPro data reveals the company maintains strong liquidity with a current ratio of 3.37, suggesting robust short-term financial stability.
Radiopharm Theranostics recently made its way onto the NASDAQ through an uplisting via American Depositary Shares (ADS), but B.Riley’s analysts suggest that the company’s progress has not been fully recognized by investors. InvestingPro analysis shows two key strengths: the company holds more cash than debt on its balance sheet and its liquid assets exceed short-term obligations. Get access to 6 additional exclusive ProTips and comprehensive financial analysis with an InvestingPro subscription. They specifically pointed to RAD204, a PDL1-targeting nanobody labeled with Lu177, which has shown clinical data from the first two cohorts of its Phase I dose-escalation study, expected in mid-2025.
The analysts also noted the development of RAD101, an F18 imaging agent targeting fatty acid synthase for brain metastases. RAD101 is currently in a Phase IIb trial with initial data from approximately 10 patients anticipated in mid-2025. B.Riley’s team believes that RAD101 is well-positioned to move into a Phase III trial and could potentially be licensed out. They drew comparisons to Telix’s imaging agent Pixclara, which received FDA priority review for glioma and benefitted from a positive reimbursement policy update by the Centers for Medicare & Medicaid Services (CMS) aimed at extending the lifecycle of imaging agents.
The optimism surrounding Radiopharm Theranostics’ pipeline is rooted in the expectation that the company’s assets will demonstrate significant potential and attract attention similar to other successful radiopharmaceuticals in the industry. The price target set by B.Riley reflects this positive outlook and the anticipated advancements in the company’s clinical trials over the next year.
In other recent news, Radiopharm Theranostics Ltd has reported positive clinical trial data for its RAD 101, which has shown effectiveness in detecting brain metastases. This development could play a crucial role in diagnosing and planning treatments for patients with secondary brain tumors. Additionally, Radiopharm has secured an A$8 million investment from Lantheus (NASDAQ:LNTH) Holdings, Inc., strengthening their relationship and providing funds to advance Radiopharm’s pipeline of radiopharmaceutical products. This investment is a significant step in the company’s strategy to expand its presence in the global oncology diagnostics market.
Furthermore, Radiopharm announced its participation in the B Riley Securities Radiopharma Conference, aligning with its focus on developing and commercializing radiopharmaceuticals. This conference offers a platform for the company to showcase its advancements and potentially foster collaborations within the industry. These recent developments are part of Radiopharm’s ongoing efforts to engage with the investment community and industry stakeholders. Investors and industry observers are likely to monitor Radiopharm’s progress closely as these developments unfold.
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