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On Monday, Plus Therapeutics Inc. (NASDAQ:PSTV) received a positive assessment from Boral (OTC:BOALY) Capital, as the firm initiated coverage of the biopharmaceutical company with a Buy rating and a $9.00 price target. Trading at $0.68, the stock has experienced significant volatility, declining 46.55% in the past week. The company, with a market capitalization of $23.04 million, is noted for its innovative approach to cancer treatment, which combines a diagnostic tool with therapeutic radiopharmaceuticals. According to InvestingPro analysis, the stock currently appears undervalued based on its Fair Value assessment.
Boral Capital’s analysis highlighted Plus Therapeutics’ development of Rhenium-186 (186RNL), a radionuclide that shows potential in treating central nervous system (CNS) cancers, including Leptomeningeal Metastases (LM) and recurrent glioblastoma (rGBM). While the analyst praised the company’s lead asset for its promise in addressing these challenging cancer types, InvestingPro data reveals the company faces financial challenges, with a weak financial health score of 1.56 and rapidly depleting cash reserves.
The endorsement from Boral Capital comes as Plus Therapeutics continues to focus on advancing its proprietary cancer treatment technologies. The firm’s recognition of the company’s strategic approach to CNS cancers has set a positive tone for its market outlook.
The $9.00 price target set by Boral Capital suggests a significant upside for Plus Therapeutics stock, reflecting the analyst’s confidence in the company’s potential to impact the cancer treatment landscape. With this new coverage, investors may take a heightened interest in the company’s progress and clinical developments.
Plus Therapeutics’ advancement in the field of radiopharmaceuticals for cancer treatment stands out in the biopharmaceutical industry. The company’s efforts to develop effective treatments for CNS cancers, which are often difficult to treat, position it as a notable player in the healthcare sector.
In other recent news, Plus Therapeutics, Inc. has regained compliance with Nasdaq’s minimum stockholders’ equity requirement, ensuring its continued listing on The Nasdaq Capital Market. This follows a successful private placement and confirmation from Nasdaq, marking a significant step for the company. Additionally, the U.S. Food and Drug Administration (FDA) has granted Orphan Drug Designation to Plus Therapeutics’ investigational treatment, Rhenium (186Re) Obisbemeda, for leptomeningeal metastases in lung cancer patients. This designation offers benefits such as potential market exclusivity and tax credits. The company has also established a recommended Phase 2 dose for its ReSPECT-LM Phase 1 trial, with plans to advance into further trials. In leadership news, Plus Therapeutics appointed Michael Rosol, Ph.D., as Chief Development Officer to oversee clinical and pre-clinical development. His experience is expected to support the company’s transition from mid-stage to pivotal trials. These developments underscore Plus Therapeutics’ ongoing efforts to advance its pipeline for central nervous system cancers.
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