Maxim analyst Michael Okunewitch raised the firm's price target on Radiopharm to $15 from $12 and keeps a Buy rating on the shares. The firm cites the company having announced positive results on its primary endpoint in an interim analysis of the first 12 patients in the Phase 2b study of RAD 101, as the study demonstrated concordance with MRI in 92% of patients treated with RAD 101 as a PET imaging agent for brain metastases, the analyst tells investors in a research note. The initial data emerging from the Phase 2b study of RAD 101 in brain metastasis imaging is highly encouraging and de-risks Radopharm's potential to address the $500M market opportunity in brain mets diagnostics and monitoring, the firm added.
