Palantir shares rise 5% premarket as AI-fueled demand powers annual guidance raise
Citizens JMP analyst reiterated a Market Outperform rating and $70.00 price target on Jasper Therapeutics (NASDAQ:JSPR) Monday, representing significant upside from the current price of $5.58. According to InvestingPro data, analysts maintain a strong buy consensus with price targets ranging from $15 to $70. The firm maintained its positive outlook following new SPOTLIGHT data for chronic inducible urticaria (CIndU) treatment.
The latest data showed that the 180 mg dose demonstrated greater efficacy compared to the 120 mg dose, with similar tryptase reductions as previously reported in the BEACON chronic spontaneous urticaria (CSU) update. This consistency strengthens the overall robustness of the clinical results. While the company’s financial health score is rated as ’FAIR’ by InvestingPro, with strong liquidity ratios and more cash than debt on its balance sheet, investors should note the company remains in its development phase.
JMP noted that the 240 mg cohort in the BEACON CSU trial had previously shown even better symptom control compared to the 180 mg dose. The firm believes the new CIndU data validates the dose escalation strategy to 180 mg and beyond in the BEACON CSU trial.
The data also demonstrated that the duration of benefit at 8 weeks remains superior to early competitor data from CLDX. JMP highlighted this extended efficacy period as a positive differentiator for Jasper’s treatment.
The absence of KIT-mediated safety issues, such as hair or skin discoloration, was emphasized as a clear advantage over competing treatments. This favorable safety profile further supports JMP’s continued optimistic outlook on Jasper Therapeutics. Despite the stock’s 74% decline over the past six months, InvestingPro analysis suggests the stock is currently undervalued, with 12 additional exclusive insights available to subscribers through the comprehensive Pro Research Report.
In other recent news, Jasper Therapeutics has disclosed a new sales agreement and terminated a previous deal, as detailed in a recent SEC filing. The company has entered into a sales agreement with Jefferies LLC, allowing it to sell shares of its voting common stock at its discretion, potentially raising up to $100 million. Jefferies LLC will earn a commission of 3.0% on the gross sales price per share sold. Concurrently, Jasper Therapeutics has ended its Controlled Equity OfferingSM Sales Agreement with Cantor Fitzgerald & Co., effective March 14, with no shares having been sold under the Cantor agreement. The termination did not result in significant early termination penalties. This strategic shift indicates Jasper Therapeutics’ ongoing efforts to manage its capital and resources effectively. The decision to partner with Jefferies LLC for future offerings suggests a move to optimize its financial strategies. These developments are based on the company’s official statements and are not an offer to sell or a solicitation to buy shares.
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