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Investing.com - JMP Securities has reiterated its Market Outperform rating and $12.00 price target on Jasper Therapeutics (NASDAQ:JSPR) following the company’s second-quarter update. The target represents significant upside from the current price of $2.97, with analyst targets ranging from $4 to $51. According to InvestingPro analysis, the stock appears undervalued based on its Fair Value metrics.
The firm noted that Jasper is taking steps to extend its cash runway to reach critical BEACON CSU data expected by year-end, following a July setback caused by a drug product issue that impacted key cohorts. InvestingPro data shows the company maintains a healthy current ratio of 4.31, though it’s quickly burning through cash reserves.
According to JMP, Jasper needs to accomplish three key objectives: extend its cash runway with small near-term dilutive financing, complete the investigation around the drug product issue, and provide a clinical update in the fourth quarter of 2025.
JMP maintains confidence that Jasper’s briquilimab treatment can be differentiated based on its dosing schedule and risk/benefit profile, supporting the firm’s continued positive outlook on the stock.
The $12 price target is derived from discounted cash flow analysis, according to the research note from JMP analyst Silvan Tuerkcan.
In other recent news, Jasper Therapeutics has announced a significant corporate reorganization, cutting approximately 50% of its workforce to concentrate on developing briquilimab for chronic urticaria. This restructuring includes the departure of Chief Medical Officer Edwin Tucker, with Daniel Adelman stepping in as Acting Chief Medical Officer. In financial updates, Citizens JMP has maintained a Market Outperform rating for Jasper Therapeutics, despite reducing the stock’s price target from $70 to $12, citing a disappointing readout in the company’s CSU clinical trial due to a manufacturing issue. BMO Capital has downgraded the stock from Outperform to Market Perform, maintaining a price target of $4, following concerns over the trial’s data interpretation. Meanwhile, Evercore ISI has adjusted its price target to $20 from $50, while still rating the stock as Outperform, anticipating Jasper will address the manufacturing issues and enroll additional patients in its CSU program. These developments reflect the company’s ongoing efforts to navigate challenges in its clinical trials and strategic focus.
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