Analyst Michael Higgins of Ladenburg Thalmann & Co. maintained a Buy rating on Armata Pharmaceuticals (ARMP – Research Report), with a price target of $9.00.
Michael Higgins’ Buy rating for Armata Pharmaceuticals is based on a multitude of factors. Primary among these is the company’s promising pipeline of therapeutics, particularly AP-PA02 and AP-SA02, which are in Phase 2 trials. Armata’s focus on the development of bacteriophage therapeutics, specifically for antibiotic-resistant infections, is seen as potentially groundbreaking in the biotechnology industry. Furthermore, Armata’s collaboration with Merck for the development of proprietary synthetic phage candidates is also a notable point of interest.
Higgins has also considered Armata’s financial health and recent performance. The analyst notes that Armata has managed to secure non-dilutive partnerships and maintain its own proprietary phage-specific GMP manufacturing facility. Additionally, the company recently reported accelerated enrollment in two of its Phase 2 programs, which is a positive sign of progress. Armata’s financial stability is further emphasized by its recent credit agreement with majority shareholder Innoviva, and it’s guidance to cash into 2024. Given these factors, it’s clear why Higgins issued a Buy rating for Armata Pharmaceuticals.
In another report released today, H.C. Wainwright also maintained a Buy rating on the stock with a $7.00 price target.
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Armata Pharmaceuticals (ARMP) Company Description:
Armata Pharmaceuticals, Inc. operates as a clinical-stage biotechnology company focused on the development of bacteriophage therapeutics for antibiotic-resistant infections using its proprietary bacteriophage-based technology. Its product candidate is the AP-SA01 that targets Staphylococcus aureus, including multidrug-resistant strains. The company was founded on May 9, 2019 and is headquartered in Los Angeles, CA.
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