In a research report published Thursday, Roth Capital analyst Michael Higgins reiterated a Buy rating on shares of Mast Therapeutics Inc (NYSEMKT:MSTX) with a $3 price target, following the company’s first Analyst & Investor Day, which took place at the Palace Hotel in New York City yesterday.
Higgins noted, “Mast’s Analyst Day produced more new data than we’ve seen since vepoloxamer’s non-SCD potential was highlighted in its 2011 10-K. As noted during the CEO’s concluding remarks, many of the activities the company undertook following its 1H’11 acquisition of vepoloxamer are starting to become evident, including EPIC’s clinical design and enrollment, as well as vepoloxamer’s potential in non-SCD indications. AIR001 is a good fit for Mast’s clinical development expertise, but like the other non-SCD indications, is not expected to be included in Mast’s valuation until EPIC’s results are known, in our view.”
Furthermore, “Management provided investors its first release of several market research surveys. The top two descriptions for the “ideal” treatment included: “Prevent vascular damage”; and “Reduce organ damage.” Comments on VOCs included, “It’s like a heart attack – the longer you have pain, the more damage is done and higher risk of dying” and “Each crisis chips away at the organs.” We believe these comments may lead to a higher price than our $11K/course assumption.”
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 8.6% and a 54.2% success rate. Higgins has an 6.8% average return when recommending MSTX, and is ranked #1035 out of 3772 analysts.
All the 4 analysts polled by TipRanks rate Mast Therapeutics stock a Buy. With a return potential of 357.5%, the stock’s consensus target price stands at $2.33.