In a report released today, Emily Bodnar from H.C. Wainwright maintained a Buy rating on Sana Biotechnology (SANA – Research Report), with a price target of $12.00.
Emily Bodnar’s rating is based on a combination of factors involving the progress and potential of Sana Biotechnology’s multiple clinical programs. She recognizes that Sana has four clinical studies on track to deliver data in 2024, which could act as significant catalysts for the company’s growth and validation of its technologies. Particularly, the ARDENT study’s promising initial results with a 50% complete response rate and a 75% overall response rate in B-cell malignancies while exhibiting a strong safety profile without cytokine release syndrome (CRS) or neurotoxicity are seen as an initial endorsement of Sana’s hypoimmune (HIP) platform. Additionally, the expectation to treat 40-60 patients across these studies within the year is anticipated to further mitigate the platform’s risk and demonstrate its versatility in treating a range of conditions, including oncology and autoimmune diseases.
The analyst retains an optimistic outlook on the near-term prospects of the company, especially regarding the treatment of Type 1 diabetes (T1D). The anticipated first-half 2024 data release from the investigator-sponsored trial (IST) focusing on HIP-modified primary islet cells is a crucial milestone. Bodnar believes the preclinical data, including non-human primate studies showing insulin independence and increased C-peptide levels, bode well for successful clinical results. The potential for an allogeneic islet cell therapy that could obviate the need for lifelong immunosuppression is seen as a game-changer in the field, which would be greatly favored by clinicians. The durability and safety data from this study will be pivotal in determining the ability of the therapy to modify the disease in the long term, and positive initial results could have substantial implications for the company’s value proposition.
According to TipRanks, Bodnar is a 4-star analyst with an average return of 5.0% and a 35.38% success rate. Bodnar covers the Healthcare sector, focusing on stocks such as Atossa Therapeutics, NovoCure, and Purple Biotech.
In another report released today, JMP Securities also reiterated a Buy rating on the stock with a $15.00 price target.
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Sana Biotechnology (SANA) Company Description:
Sana Biotechnology Inc is a biotechnology company. The company develops engineered cells as medicines and therapies to treat diseases.
