HOOKIPA Pharma (HOOK.O) Gains Analyst Confidence with Promising HB-200 Trial Results

Key Points

• Analyst Roy Buchanan from JMP Securities and RBC Capital both reiterated Buy ratings on HOOKIPA Pharma (HOOK) with a price target of $5.00.
• The positive ratings are based on promising early results from the Phase 2 trial of HB-200, showing favorable PFS and OS metrics and robust T-cell responses.
• Despite a recent share price decline, analysts remain optimistic about the company's potential, suggesting that the current valuation may not fully reflect the drug's potential.

In this news

HOOKIPA Pharma Inc. (HOOK) has received a significant boost in investor confidence following the latest positive evaluations from analysts regarding its HB-200 immunotherapy trial. On May 21, RBC Capital reaffirmed its Buy rating on HOOKIPA Pharma, maintaining a price target of $5.00. This endorsement comes on the heels of a similar rating from Roy Buchanan of JMP Securities, who also reiterated a Buy rating with the same price target. Buchanan's optimism is rooted in the promising early results from the Phase 2 trial of HB-200, an immunotherapy for HPV16, in combination with Keytruda.

The Phase 2 trial has shown encouraging outcomes, particularly in patients with high PD-L1 expression, where complete responses were observed. Preliminary data on progression-free survival (PFS) and overall survival (OS) metrics are favorable when compared to historical data. Buchanan emphasized the robust T-cell responses generated by the arenavirus platform, which supports the potential efficacy of the treatment. Despite a slight decline in share price following the ASCO abstract release, Buchanan remains optimistic about the company's prospects, suggesting that the current valuation may not fully reflect the drug's potential due to a conservative 45% probability of approval.

HOOKIPA Pharma, headquartered in New York, NY, specializes in developing immunotherapeutics for infectious diseases and cancers using its proprietary arenavirus platform. The company's products, VaxWace and TheraT, aim to induce robust antigen-specific CD8+ T cells and pathogen-neutralizing antibodies. Founded in 2011, HOOKIPA Pharma continues to explore significant market opportunities beyond head and neck cancer indications, supported by strong clinical response rates and a favorable safety profile.