Promising Potential of Silevertinib in EGFR-Mutant NSCLC: Buy Rating Reiterated
Analyst Robert Burns from H.C. Wainwright reiterated a Buy rating for Black Diamond Therapeutics, citing promising Phase 2 data for silevertinib in EGFR-mutant NSCLC. The drug showed a 60% response rate and strong CNS efficacy. Burns maintains a $10 price target, supported by a DCF valuation. Piper Sandler also initiated coverage with a Buy rating and a $9 target.
Analyst Robert Burns from H.C. Wainwright reiterated a Buy rating on Black Diamond Therapeutics and keeping the price target at $10.00.
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Robert Burns has given his Buy rating due to a combination of factors that highlight the promising potential of Black Diamond Therapeutics’ silevertinib in treating non-classical EGFR-mutant NSCLC. The Phase 2 data for silevertinib showed a 60% overall response rate in front-line settings, with notable efficacy across 35 different mutations and strong CNS efficacy, which is a significant achievement in this therapeutic area.
Moreover, the drug’s safety profile is consistent with typical EGFR-TKI treatments, and its efficacy remains robust even with dose reductions, indicating a wide therapeutic index. Looking forward, the company plans to advance silevertinib into pivotal trials, either independently or with a partner, and is maintaining its long-term forecasts based on a DCF valuation. These factors collectively underpin the reiterated Buy rating and the 12-month price target of $10.
In another report released on November 18, Piper Sandler also initiated coverage with a Buy rating on the stock with a $9.00 price target.
