Maxim Weighs in on Mast Therapeutics Inc (MSTX) Following Delay in EPIC Trial Data Results for SCD
Maxim analyst Jason McCarthy comments on Mast Therapeutics Inc (NYSEMKT:MSTX) ahead of EPIC study data for the investigation of Sickle Cell Disease (SCD), delayed from summer to early fall now in September. McCarthy reiterates a Buy rating on MSTX shares with a price target of $5.00, marking an over 1,300% increase from where the stock is currently trading.
Even in light of the delay, McCarthy asserts, “We fundamentally believe that nothing has changed, and the timing of the data is within the range of what we expected: ‘late summer.'” The reason for the push-back in McCarthy’s eyes delves into a delay in quality control measures, and not a worrisome result on either the quality or the integrity for the upcoming EPIC study results.
In fact, McCarthy believes, “The timing for Mast’s data in September could be favorable as investors focus again on the biotechnology space in the fall (as we pass through the summer doldrums).” The analyst concludes with a positive bias, expecting an outcome favorable for investors regarding the upcoming phase III data for Vepoloxamer.
As usual, we recommend taking analyst notes with a grain of salt. They are often successful in moving the stock price, but you always need to take things into perspective. According to TipRanks, Jason McCarthy is ranked #3,851 out of 4,083 analysts. His success rate to date is 32%, averaging a loss of 7% in his annual returns.
TipRanks analytics exhibit Mast Therapeutics as a Strong Buy. Based on 3 analysts polled in the last 3 months, all 3 rate a Buy. The 12-month average price target is $3.33, marking an 851% upside from where the stock is currently trading.