Threshold Stock Is Currently Undervalued, Says MLV Analyst
In a research report issued today, MLV analyst George Zavoico reiterated a Buy rating on Threshold Pharmaceuticals (NASDAQ:THLD) with a $14.50 price target, which implies an upside of 365% from current levels.
Zavoico noted, “Recently, Threshold presented positive interim results of the Phase II portion of a Phase I/II trial of its hypoxia-activated prodrug, TH-302, in combination with bortezomib and dexamethasone (BORD) in relapsed/refractory multiple myeloma (RRMM). This follows positive updated interim results of TH-302 in combination with bevacizumab (BEV) in recurrent glioblastoma multiforme (GBM) presented a few weeks ago at the Annual Meeting of the Society of Neuro-Oncology (SNO). These results support our view that TH-302 is a platform in a single drug as we think it may be efficacious in multiple cancer types and is safely combinable with effective antitumor agents to improve clinical outcomes.”
The analyst continued, “We think Threshold stock is currently undervalued, especially since we expect interim and final results from multiple trials next year, including a pivotal Phase III trial in soft tissue sarcoma (STS), that we think will add to the growing body of evidence that TH-302 is a safe and effective drug.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst George Zavoico has a total average return of 10.8% and a 63.9% success rate. Zavoico is ranked #633 out of 3420 analysts.