Fintel reports that on August 24, 2023, HC Wainwright & Co. initiated coverage of eFFECTOR Therapeutics (NASDAQ:EFTR) with a Buy recommendation.
Analyst Price Forecast Suggests 959.51% Upside
As of August 2, 2023, the average one-year price target for eFFECTOR Therapeutics is 7.52. The forecasts range from a low of 5.56 to a high of $10.50. The average price target represents an increase of 959.51% from its latest reported closing price of 0.71.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for eFFECTOR Therapeutics is 1MM, a decrease of 66.93%. The projected annual non-GAAP EPS is -0.74.
What is the Fund Sentiment?
There are 58 funds or institutions reporting positions in eFFECTOR Therapeutics. This is an increase of 6 owner(s) or 11.54% in the last quarter. Average portfolio weight of all funds dedicated to EFTR is 0.10%, an increase of 69.21%. Total shares owned by institutions decreased in the last three months by 12.95% to 25,993K shares. 
The put/call ratio of EFTR is 0.05, indicating a bullish outlook.
What are Other Shareholders Doing?
Sr One Capital Management holds 6,822K shares representing 11.05% ownership of the company. No change in the last quarter.
Carlyle Group holds 4,822K shares representing 7.81% ownership of the company. No change in the last quarter.
Column Group holds 4,309K shares representing 6.98% ownership of the company. No change in the last quarter.
Sectoral Asset Management holds 2,383K shares representing 3.86% ownership of the company. No change in the last quarter.
Aristeia Capital holds 1,498K shares representing 2.42% ownership of the company. In it's prior filing, the firm reported owning 1,540K shares, representing a decrease of 2.84%. The firm increased its portfolio allocation in EFTR by 61.76% over the last quarter.
eFFECTOR Therapeutics Background Information
(This description is provided by the company.)
eFFECTOR is a clinical-stage biopharmaceutical company focused on pioneering the development of a new class of oncology drugs referred to as STRIs. eFFECTOR’s STRI product candidates target the eIF4F complex and its activating kinase, mitogen-activated protein kinase interacting kinase (MNK). The eIF4F complex is a central node where two of the most frequently mutated signaling pathways in cancer, the PI3K-AKT and RAS-MEK pathways, converge to activate the translation of select mRNA into proteins that are frequent culprits in key disease-driving processes. Each of eFFECTOR’s product candidates is designed to act on a single protein that drives the expression of multiple functionally related proteins, including oncoproteins and immunosuppressive proteins in T cells, that together control tumor growth, survival and immune evasion. eFFECTOR’s lead product candidate, tomivosertib, is a MNK inhibitor currently being evaluated in KICKSTART, a randomized, double-blind, placebo-controlled Phase 2b trial of tomivosertib in combination with pembrolizumab in patients with metastatic non-small cell lung cancer (NSCLC). Zotatifin, eFFECTOR’s inhibitor of eIF4A, is currently being evaluated in Phase 2a expansion cohorts in certain biomarker-positive solid tumors, including ER+ breast cancer and KRAS-mutant NSCLC. eFFECTOR has a global collaboration with Pfizer to develop inhibitors of a third target, eIF4E. In addition to the company’s oncology focus, zotatifin is being evaluated as a potential host-directed anti-viral therapy in patients with mild to moderate COVID-19 in collaboration with the University of California, San Francisco, under a $5 million grant sponsored by the Defense Advanced Research Projects Agency.
Additional reading:
- eFFECTOR Therapeutics Reports Second Quarter 2023 Financial Results and Provides Corporate Update Positive data update from Phase 2 expansion cohort evaluating zotatifin combined with fulvestrant and abemaciclib (ZFA triplet) in estrogen receptor-pos
- CERTIFICATE OF AMENDMENT AMENDED AND RESTATED CERTIFICATE OF INCORPORATION OF eFFECTOR THERAPEUTICS, INC.
- SECURITIES PURCHASE AGREEMENT
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