H.C. Wainwright Maintains Buy on Celator Pharmaceuticals Inc Following Data from CPX-351 Study
H.C. Wainwright analyst Andrew Fein weighed in with his opinions on Celator Pharmaceuticals Inc (NASDAQ:CPXX) after the company reported gross response data from its ongoing Phase 3 study of CPX-351 in high- risk Acute Myeloid Leukemia. Fein maintained a Buy rating on Celator with a price target of $7.00, which represents a potential upside of 185% from where the stock is currently trading.
Fein noted, “What we like about Celator’s approach is that it leverages the two drugs that we know work, and only these two drugs, in a different formulation ratio and schedule optimized for efficacy. The Phase 3 induction response reported yesterday was indeed numerically lower than what was observed in Phase 2, however, this was the case in both the 351 arm and the 7+3 (control) arm.”
The analyst continued, “We also highlight to investors that in the end the only life saving consolidation therapy in AML is transplant, and CR/CRi are only a means of getting to transplant. Then, although on yesterday’s call we were happy to hear that the study arms are well balanced in baseline prognostics, we acknowledge that the only balance that matters in the end is a balance in post-remission therapy, which the company has little control over.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Andrew Fein has a total average return of 25.7% and a 67.6% success rate. Fein is ranked #112 out of 3679 analysts.
Two analysts polled by TipRanks rate Celator stock a Buy. With a downside potential of 143.90%, the stock’s consensus target price stands at $6.00.