Buy Rating Affirmed for Notable Labs Amid Promising Drug Program and Robust PPMP Platform

Analyst Keay Nakae of Chardan Capital maintained a Buy rating on Notable Labs (NTBL – Research Report), reducing the price target to $5.00.

Keay Nakae has given his Buy rating due to a combination of factors concerning Notable Labs, including its current financial position and the potential of its lead drug program. Despite a decrease in the company’s share price leading to a more dilutive future capital raise, Nakae maintains a positive outlook. Notable Labs finished the recent quarter with a sufficient cash reserve to support operations into the latter part of the next year, and its lead drug, volasertib, is showing promise in clinical studies, which is a significant driver of the Buy rating.
Additionally, the company’s proprietary PPMP platform is expected to enhance the selection of patients for clinical trials, potentially increasing the efficiency and success rate of these studies. Notable Labs presented compelling data at a recent major conference that supports the efficacy of their platform. The ability to process cryopreserved samples with similar accuracy to fresh samples, as demonstrated in their research, underpins confidence in the platform’s robustness and utility in clinical settings. This technological edge, coupled with the strategic advancement of volasertib into phase II trials, supports Nakae’s optimistic assessment and Buy recommendation for Notable Labs.

Nakae covers the Healthcare sector, focusing on stocks such as Notable Labs, ProQR, and Seres Therapeutics. According to TipRanks, Nakae has an average return of 2.0% and a 37.65% success rate on recommended stocks.

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Notable Labs (NTBL) Company Description:

Vascular Biogenics Ltd. is in the clinical-stage biopharmaceutical company, which engages in the discovery, development and commercialization of first-in-class treatments for cancer. It offers different programs for cancer and inflammatory disease patients such as vascular targeting system and Lecinoxoids. The company was founded by Dror Harats and Jacob George on January 27, 2000 and is headquartered in Modi’in, Israel.