RAIN - Rain Oncology resumed with a buy at Roth Capital on liposarcoma candidate milademetan
- Roth Capital has resumed coverage of Rain Oncology ( NASDAQ: RAIN ) with a buy rating saying that the company's lead candidate, milademetan for liposarcoma, has a positive risk/reward setup in advance of a Q1 data readout
- The firm has a price target of $21 (~117% upside based on Monday's close).
- Analyst Kumaraguru Raja noted that milademetan has its biggest potential in cancers where MDM2 and p53 are key drivers. MDM2 is an oncogene that modulates p53, a tumor suppressor.
- Raja added that preclinical data shows that MDM2 could be a target for inflammatory and autoimmune diseases as well.
- Read why Seeking Alpha contributor Busted IPO Forum rates Rain Oncology ( RAIN ) a hold.
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Rain Oncology resumed with a buy at Roth Capital on liposarcoma candidate milademetan