Roth Capital Maintains Buy On Bio Blast Pharma As HOPEMD Study Expands Into Canada
In a research report issued today, Roth Capital analyst Joseph Pantginis maintained a Buy rating on Bio Blast Pharma (NASDAQ:ORPN) with a price target of $15. The report follows the approval to open Canadian sites in the company’s ongoing Phase II/III HOPEMD study of Cabaletta in oculopharyngeal muscular dystrophy (OPMD) patients.
Pantginis noted, “The initiation of the Canadian site of HOPEMD in addition to the recent release of preclinical and clinical data of Cabaletta are incremental positive achievements in the development of Cabaletta. Recall that the recent preclinical and clinical data supports the IV route of administration and the current formulation of the drug. Additionally, interim safety results from its Israeli HOPEMD study site, showed that the drug was well tolerated and properly metabolized following almost two months of exposure in the first 11 patients.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Joseph Pantginis has a total average return of -8.6% and a 32.4% success rate. Pantginis has a -4.5% average return when recommending ORPN, and is ranked #3279 out of 3295 analysts.