H.C. Wainwright Reiterates Buy Rating on NextCure Inc. (NXTC)

H.C. Wainwright analyst Emily Bodnar reiterated a Buy rating and $20.00 price target on NextCure Inc. (NASDAQ: NXTC).

The analyst commented: "Yesterday, NextCure and Avere Therapeutics (private) announced a definitive merger agreement for an all-stock transaction. Avere will be using NextCure's public market infrastructure to accelerate development of AVR-001, a long-acting cyclin peptide oral IL-23 receptor antagonist currently in development for psoriasis. AVR-001 was licensed from Hansoh (HKG: 3692; not rated) for $120M upfront and up to $2.3B in total economics including milestones and royalties. Phase 1b data of AVR-001 in psoriasis indicated potential for once-weekly oral dosing, creating convenience over QD and BID dosing currently approved with oral therapies in psoriasis. The companies have completed a concurrent $320M private investment, making Avere well capitalized to advance AVR-001 through Phase 2b in psoriasis, initiation of Phase 3 in psoriasis, and initiation of a Phase 2b in ulcerative colitis (UC) in 2027. We reiterate our Buy rating and $20 price target."

For an analyst ratings summary and ratings history on NextCure Inc. click here. For more ratings news on NextCure Inc. click here.

Shares of NextCure Inc. closed at $6.58 yesterday.

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