Wedbush sees strong growth potential for G1 Therapeutics' drug, hikes PT

G1 Therapeutics

16/09/2022 13:56

** Brokerage Wedbush raises PT on G1 Therapeutics Inc
 GTHX.O  to $25 from $20, citing strong growth opportunities for
co's commercial drug with ongoing studies testing it for
multiple types of cancer
    ** Brokerage's new PT represents an upside of about 62% to
stock's last close
    ** The drug, Cosela, was approved by the FDA in February
last year to shield lung cancer patients from some harmful
effects of chemotherapy; co is testing the drug's potential
among patients with colorectal, breast and bladder cancer
    ** Brokerage believes colorectal cancer (CRC) is a
significant market opportunity for the drug, estimates worldwide
sales of $600 mln in 2028 in CRC
    ** Sees drug's approval for CRC as the first important step
towards achieving significant sales growth; believes breast
cancer represents a smaller opportunity
    ** Says GTHX shares have an attractive risk/reward profile
and recommends buying stock ahead of multiple data readouts in
the year and 2023 
    ** Up to last close, stock had risen 51% YTD, outperforming
a 16% fall in the Nasdaq biotech index  .NBI 

 (Reporting by Amruta Khandekar)
 ((Amruta.Khandekar@thomsonreuters.com;))