H.C. Wainwright Reiterates Buy Rating on Elicio Therapeutics (ELTX)

H.C. Wainwright analyst Robert Burns reiterated a Buy rating and $23.00 price target on Elicio Therapeutics (NASDAQ: ELTX).

The analyst commented: "A few days after reporting topline DFS results from the AMPLIFY-7P trial, Elicio reported that three patients who experienced disease progression following treatment with ELI-002 7P and were subsequently treated with Opdivo (nivolumab) plus gemcitabine/nab-paclitaxel achieved confirmed complete radiographic and metabolic responses, accompanied by normalization of the tumor biomarker CA19-9. Two of the three patients maintained CRs for at least eight months, while one patient continues to demonstrate an ongoing CR exceeding 13 months. Notably, all three patients exhibited persistent mKRAS-specific T-cell responses and were microsatellite-stable (MSS)/mismatch repair proficient (MMR-p), a population that has historically demonstrated limited responsiveness to immune checkpoint inhibitors. For context, reported ORRs and CRs for anti-PD-(L)1 therapy combined with nab-paclitaxel and gemcitabine in 1L mPDAC have historically ranged from 18% to 35% and 0% to 5%, respectively, with durable CRs rarely observed. While we acknowledge the limitations associated with the small sample size, these observations, together with the mechanistic and clinical evidence outlined below, provide support for further investigation of ELI-002 7P in combination with a checkpoint inhibitor (CPI). We reiterate our Buy rating and $23 price target."

For an analyst ratings summary and ratings history on Elicio Therapeutics click here. For more ratings news on Elicio Therapeutics click here.

Shares of Elicio Therapeutics closed at $3.85 yesterday.

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