Kintara Therapeutics, Inc (KTRA) PT Doubled to $6 at Maxim Group
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Maxim Group analyst Jason McCarthy raised the price target on Kintara Therapeutics, Inc (NASDAQ: KTRA) to $6.00 (from $3.00) while maintaining a Buy rating after the the Global Coalition for Adaptive Research (GCAR), Kazia Therapeutics (KZIA) and Kintara Therapeutics (KRTA) recenty announced the initiation of VAL-083 (Kintara) and paxalisib (Kazia) in the ongoing GBM AGILE (Adaptive Global Innovative Learning Environment) platform trial.
"Our view is that the 'blocking and tackling' by management since taking the reins in mid-2018 is starting to materialize, and this is being reflected with renewed interest in KTRA shares," the analyst commented. "That said, at a market capitalization of ~$45M, success of either drug is still not priced into shares, in our view. Kintara is also undervalued relative to peers in the GBM space; for example, Medicenna (MDNA - Buy, ~$210M MCap) and Kazia (KZIA - NR, ~$130M MCap), both at a similar stage of development in GBM albeit different drug candidates and MOAs. VAL-083 is also being included for a methylated GBM adjuvant arm, the importance of which, and other key aspects of GBM AGILE are discussed below."
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