Roth Capital’s healthcare analyst Michael Higgins weighed in today with a few insights on Mast Therapeutics Inc (NYSEMKT:MSTX), ahead of the 4th Annual Sickle Cell Disease Therapeutics Conferences at The Four Seasons Hotel in New York City on September 3. The analyst believes that the conference may provide insights on Mast’s Phase 3 trial, with results expected in early 2016.
Higgins noted, “We aren’t looking for interim results, we are looking for any updates on the trial’s progress and insights from KOLs that are familiar with vepoloxamer. Furthermore, “With Mast having the most advanced sickle cell asset in the pipeline and a 2.5 year lead over the next competitor, we believe this conference is an uncommon win-win amongst clinical-stage biopharma’s.”
“Given the lack of drug interactions with vepoloxamer and its “first mover” advantage, we believe Mast is smart to run these conferences as we expect its vepoloxamer will become the gold standard in treating painful vaso-occlusive crises and, become the most commonly paired drug in Phase IV studies,” the analyst added.
The analyst reiterated a Buy rating on Mast Therapeutics share, with a price target of $3.00, which represents a potential upside of 530% from where the stock is currently trading.
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Michael Higgins has a total average return of 17.2% and a 72.2% success rate. Higgins has a -4.1% average return when recommending MSTX, and is ranked #650 out of 3748 analysts.
All the 4 analysts polled by TipRanks rate Mast Therapeutics stock a Buy. With a return potential of 390%, the stock’s consensus target price stands at $2.33.