Fusion Pharmaceuticals Stock Gets Price Target Boost and Strong Buy Rating from Raymond James

Raymond James's Rahul Sarugaser raised their price target on Fusion Pharmaceuticals (NASDAQ: FUSN) by 6.7% from $15 to $16 on January 5th, 2024. The analyst maintained their Strong Buy rating on the stock. Sarugaser explained that their price target increase followed Fusion Pharmaceuticals's "clinical and manufacturing updates ahead of the JPMorgan Healthcare conference scheduled for January 8th to 11th." According to the analyst, there has been "a flurry of M&As in the radiopharmaceuticals and targeted oncology spaces," and they predicted that "any move on Fusion Pharmaceuticals would come at a significant premium."

Another analyst, Jeff Jones from Oppenheimer, also issued an update on Fusion Pharmaceuticals on January 5th, 2024. Jones raised their price target by 15.4%, from $13 to $15, and maintained their Buy rating on the stock.

Currently, 100% of top-rated analysts rate FUSN as a Strong Buy or Buy. No analysts see it as a Hold, and there are no recommendations to either sell or strongly sell the stock.

Fusion Pharmaceuticals has shown impressive growth in its stock price since its last quarterly report on September 30th, 2023. The stock price has increased by 221% since then, and on a year-over-year basis, it is up by 122.5%. During this period, FUSN has outperformed the S&P 500, which has only seen a 23.3% increase.

Rahul Sarugaser, the Raymond James analyst who raised the price target on Fusion Pharmaceuticals, is ranked in the top 25% of Wall Street analysts by WallStreetZen. Sarugaser specializes in the Consumer Defensive and Healthcare sectors and has an average return of 29.9% and a 44.4% win rate.

Fusion Pharmaceuticals Inc. is a clinical-stage oncology company that focuses on developing radiopharmaceuticals as precision medicines. The company's Targeted Alpha Therapies platform, combined with its proprietary Fast-Clear linker technology, enables the delivery of alpha particle payloads to tumors selectively. FPI-1434 is the company's leading product candidate, currently in Phase 1 clinical trials as a monotherapy for patients with solid tumors expressing insulin-like growth factor 1 receptor. Fusion Pharmaceuticals is also conducting preclinical studies of FPI-1434 in combination with approved checkpoint inhibitors and DNA damage response inhibitors to assess the anti-tumor activity and dosing schedule of these combinations.

Additionally, the company is progressing its earlier-stage product candidate, FPI-1966, into clinical development for the treatment of head and neck and bladder cancers expressing fibroblast growth factor receptor. Fusion Pharmaceuticals has a strategic collaboration agreement with AstraZeneca UK Limited to jointly discover, develop, and commercialize alpha-emitting radiopharmaceuticals and combination therapies for cancer treatment. The company was incorporated in 2014 and is headquartered in Hamilton, Canada.

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