Boston, MA 04/10/2014 (wallstreetpr) – Shares of biotech Bio-Path Holdings Inc (NASDAQ:BPTH) have shown impressive rally in recent times. Analysts project that there is more room for the stock to jump given the underlying prospects.
The company has a number of experimental drugs that are already showing positive results through the initial trials. Its lead drug candidate intended for treatment of leukemia is expected to enter the mid-stage trial phase in the second half of the year. The drug already showed compelling results in the interim results for the Phase I trial.
The market for cancer drugs is very huge, and the company is trying to get its products to the market with solid study backing so that it can benefit from a blockbuster.
Bio-Path Holdings Inc (NASDAQ:BPTH)’s balance sheet is current in good shape following the $15 million financing boost. The company expects to put the money in improving its product pipeline and funding of drug trials.
On the basis of the company’s promising pipeline and the solid balance sheet, analysts at Zacks issued an “outperform” rating on the stock. The analysts also stated that they expect shares of the company to hit $7 over the next 12 months. The price target reflects 185 percent potential upside compared with the current price of the stock.
Analysts have of late become optimistic in the stock, suggesting that nice things down the road.
Performance
In its most recent reporting, Bio-Path Holdings Inc (NASDAQ:BPTH) announced earning $0.01 per share, in-line with Thomson Reuters estimate of $0.01.
According to Bio-Path’s CEO Peter Nielson, 2013 was a particularly good year for the company. He said that they were able to attain significant research milestone in their drug trials. The company was also able to attract an institutional investor during the year, therefore, showing that big investors are beginning to gain confidence in the business.
This year, the company expects to improve its drug supply chain and continue trials on its drug candidates, thanks to the financial injection. The company also expects to maintain is expenses at a minimum to avoid cash burn.
Bio-Path Holdings Inc (NASDAQ:BPTH) expects 2014 to be a transformational year for the as it builds its clinical programs and enroll patients for further trial of its drug candidates.
To sum up the story
Bio-Path Holdings Inc (NASDAQ:BPTH) is an attractive stock. The company boasts a competent management team, improving pipeline and increasing interest from big investors. The jostling for institutional investors for a stake in the company should serve to boost investor confidence about the company’s future.
