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Strong Financial Position and Promising SAB-142 Pipeline Merit Buy Rating – TipRanks Financial Blog

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In a report released on April 2, Keay Nakae from Chardan Capital reiterated a Buy rating on SAB Biotherapeutics (SABSResearch Report), with a price target of $25.00.

Keay Nakae has given his Buy rating due to a combination of factors related to SAB Biotherapeutics’ financial stability and promising developments in its drug pipeline. The company has reported a healthy cash and equivalents balance of $56.6 million, showing an increase from the previous year and has successfully raised additional funds through private placement offerings. This financial footing is expected to sustain the company through 2026, which includes the anticipated topline phase II results for their SAB-142 therapeutic candidate. Additionally, the successful 1-for-10 reverse stock split has brought the company back into compliance with Nasdaq Listing Rule minimum bid price requirement. These financial maneuvers and strategic planning indicate a stable foundation for the company’s continued growth and development.

Furthermore, the clinical progress of their lead candidate, SAB-142, is on track with phase I trial data expected by the end of 2024. SAB-142, a novel immunotherapy for type 1 diabetes, is being developed on SAB’s DiversitAb platform and aims to demonstrate safety benefits over existing treatments. The recent FDA approval of a similar first-in-class immunotherapy and a subsequent major acquisition in the space have heightened investor interest in new type 1 diabetes therapies. Keay Nakae’s positive outlook is underpinned by the potential market opportunity for SAB-142, and the company’s ability to capitalize on the current momentum within the type 1 diabetes therapeutic landscape.

Nakae covers the Healthcare sector, focusing on stocks such as Alnylam Pharma, Coya Therapeutics, Inc., and Arrowhead Pharmaceuticals. According to TipRanks, Nakae has an average return of 4.0% and a 37.82% success rate on recommended stocks.

In another report released on April 2, H.C. Wainwright also reiterated a Buy rating on the stock with a $6.00 price target.

TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.

SAB Biotherapeutics (SABS) Company Description:

Blue Calypso Inc is engaged in the development, sales, delivery and…

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