SPCEO1 - (9/2/2022 11:01:53 AM)
RE:RE:Very Interesting Development
Of course, but you apparently are missing my point, which is this odd behavior by this particular analyst who has been antagonistic/apathetic towards THTX since the ONO likely tells us something is going on which will likely have positive ramifications for the stock. If Ed Nash didn't think there was a great reason to get his numbers sorted out and raise his price target, I doubt this report would have been written. Also, even if he did know he had to do some housekeeping on his model, he would have waited until the Q3 results were released or about to be released. The report itself and the timing of its release suggest to me at least that something positive may be afoot.
canadapiet wrote: ???
If......IF they have positive 1b results in ONCOLOGY ......, don't you think every broker would like to do another ONO......?????!!!!
SPCEO1 - (9/2/2022 10:20:18 AM)
Very Interesting Development
While the stock is off to its normally sleepy start to the day, Ed Nash at Canaccord published a report on THTX where he lifted his price target by 50% to $3 from $2, cut his estimates for both revenues and expenses back to something that better reflects reality (his numbers were way off) and maintained his "Hold" rating. Coming on the heels of a good slot THTX got at the Canaccord conference, it is clear Canaccord and THTX are trying to mend their fractured relationship in anticipation of good cancer results and another equity raise to help fund the R&D.
The timing of the report is also telling to me. Analysts just don't write reports where they raise their price target 50% on no news item being reported and while they are also cutting future estimates of revenues (Ed's previous revenue numbers were comically off the mark for 2023 and beyond).
My best guess is THTX knows they have some good cancer info to announce on the short term horizon and want to do right by Ed, who pretty much got stiffed by THTX on the ONO. So, they winked at him and told him to get his act back together when it comes to THTX because things are going to happen, including another equity raise once good cancer data comes out.
From my perspective, this is one of the best "tells" we have that the TH-1902 phase 1b may soon have some positive results to report.