Canaccord’s healthcare analyst John Newman weighed in today with a few insights on Mast Therapeutics Inc (NYSEMKT:MSTX), after the company hosted an Analyst Day to highlight its pipeline and provided an update on its currently running, pivotal Phase 3 trial EPIC.

Newman observed, “Mast presented a blinded interim statistical analysis for vepoloxamer from the ongoing Phase 3 trial, which we view as encouraging based on (1) lower overall mean duration of crisis vs placebo assumptions, (2) standard deviation in-line with previous assumptions, and (3) similar duration and data distribution from US and Ex-US sites.”

The analyst concluded, “We believe vepoloxamer is showing activity in the ongoing Phase 3 EPIC trial for Sickle Cell Disease based on a blinded analysis, and expect positive Phase 3 data 1Q16. Mast presented a blinded analysis at ~2/3 enrollment for the EPIC study at its R&D day, which showed a median duration of crisis of ~79 hours, below the assumed placebo duration of 96 hours. We suspect the treatment arm may be lowering the overall duration of crisis, which is positive.”

Newman reiterated a Buy rating on Mast Therapeutics shares, with a price target of $3, which implies an upside of 478% from current levels.

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst John Newman has a total average return of -1.4% and a 40.2% success rate. Newman has a 7.2% average return when recommending MSTX, and is ranked #3065 out of 3772 analysts.

As of this writing, all the 4 analysts polled by TipRanks rate Mast Therapeutics stock a Buy. With a return potential of 350%, the stock’s consensus target price stands at $2.33.