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Investing.com - Piper Sandler has reiterated an Overweight rating and $75.00 price target on Upstream Bio (NASDAQ:UPB), maintaining its positive outlook on the biopharmaceutical company. With a current market cap of $1.02 billion and analyst targets ranging from $35 to $75, InvestingPro analysis indicates the stock is currently trading above its Fair Value.
The stock has gained significant momentum, rising approximately 118% over the past six months despite initially selling off about 20% following its October 11, 2024 IPO, according to Piper Sandler’s analysis. InvestingPro data reveals the company maintains a strong financial position with more cash than debt and a healthy current ratio of 38.27.
Investors have shown growing interest in the company’s lead drug candidate verekitug, particularly for its potential less frequent dosing advantage, which could allow for administration every 12 to 24 weeks.
The research firm highlighted upcoming catalysts including Phase 2 VIBRANT trial topline results for chronic rhinosinusitis with nasal polyps (CRSwNP) expected in the third quarter of 2025, followed by Phase 2 VALIANT severe asthma data anticipated in the first quarter of 2026.
Piper Sandler expressed confidence in both trials’ probability of success and believes verekitug’s commercial potential with less frequent dosing presents meaningful upside opportunity ahead of these clinical data readouts.
In other recent news, Upstream Bio has commenced its Phase 2 clinical trial for the drug verekitug, aimed at treating chronic obstructive pulmonary disease (COPD). The trial, known as VENTURE, will evaluate the efficacy and safety of verekitug in approximately 670 adults with moderate-to-severe COPD. Participants in the study will receive varying doses of the drug or a placebo over treatment periods ranging from 60 to 108 weeks. Meanwhile, JPMorgan has reiterated its Overweight rating on Upstream Bio, maintaining a price target of $35.00. The investment bank anticipates positive Phase 2 results for verekitug across multiple type 2 inflammatory conditions within the next nine months. These developments reflect significant progress for Upstream Bio as it advances its clinical programs.
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