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Investing.com - H.C. Wainwright raised its price target on Elicio Therapeutics (NASDAQ:ELTX) to $13.00 from $10.00 on Thursday, while maintaining a Buy rating on the stock. The clinical-stage biotechnology company, currently valued at $144.64 million, has demonstrated strong momentum with a 77.45% gain year-to-date.
The research firm cited the upcoming interim analysis from the randomized Phase 2 portion of the AMPLIFY-7P trial, expected in the third quarter of 2025, as a key catalyst for investor focus.
H.C. Wainwright noted that positive results for ELI-002 7P would validate Elicio’s vaccine platform and could drive meaningful share price appreciation for the company.
The firm suggested that favorable trial results might be sufficient to generate partnership or acquisition interest in Elicio Therapeutics.
The price target increase was partially attributed to H.C. Wainwright lowering its discount rate to 10% from the previous 11% in its valuation model.
In other recent news, Elicio Therapeutics, Inc. announced securing a $10 million senior secured promissory note from GKCC, LLC. This funding is expected to support the company’s operations into the first quarter of 2026, covering the period for an anticipated interim analysis of their AMPLIFY-7P Phase 2 study. The promissory note, maturing in June 2028, has an interest rate of up to 12.5% and includes a 24-month interest-only period. Additionally, Elicio has issued warrants allowing GKCC to purchase 103,225 shares of common stock at $7.75 per share. In another development, Elicio reported the results of its annual stockholders meeting, where Karen Wilson and Robert R. Ruffolo, Jr. were elected to the Board of Directors with significant majorities. The meeting also ratified the appointment of Baker Tilly US, LLP as the independent registered public accounting firm for 2025. The voting outcomes were disclosed in a recent filing with the U.S. Securities and Exchange Commission. These recent developments reflect Elicio’s ongoing efforts to strengthen its financial position and governance structure.
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