UPDATE: H.C. Wainwright Starts Indaptus Therapeutics (INDP) at Buy

H.C. Wainwright analyst Raghuram Selvaraju initiates coverage on Indaptus Therapeutics (NASDAQ: INDP) with a Buy rating and a price target of $15.00.

The analyst comments "We are establishing a Buy rating and 12-month price target of $15 per share on Indaptus Therapeutics based on its reverse merger with Decoy Therapeutics, a pioneer in the development of next-generation immuno-oncology therapeutics based on the science underlying Coley's toxins. The Decoy platform is based on the hypothesis that efficient activation of both innate and adaptive immune cells and associated anti-tumor and anti-viral immune responses will require a multi-targeted package of immune system activating signals that can be administered safely intravenously. Indaptus' patented technology is composed of single strains of attenuated and killed, non-pathogenic, Gram-negative bacteria, with reduced toxicity following intravenous administration, but non-compromised ability to prime or activate many of the cellular components of innate and adaptive immunity. This approach has led to broad anti-tumor and anti-viral activity, including safe, durable anti-tumor response synergy with each of five different classes of existing agents, including checkpoint therapy, targeted antibody therapy and low-dose chemotherapy in preclinical models. Indaptus has carried out successful GMP manufacturing of its lead clinical candidate, Decoy20, and is completing other Investigational New Drug (IND)-enabling studies."

For an analyst ratings summary and ratings history on Indaptus Therapeutics click here. For more ratings news on Indaptus Therapeutics click here.

Shares of Indaptus Therapeutics closed at $4.59 yesterday.

You May Also Be Interested In

• Lucid Capital Markets Starts Blue Owl Capital Corp. (OBDC) at Buy
• Williams Trading Downgrades Canada Goose (GOOS:CN) (GOOS) to Sell
• UBS Downgrades Tenable (TENB) to Neutral