Analysts at 'house' broker finnCap have reiterated their 306p per share risk-adjusted DCF-driven target price for Destiny Pharma PLC (AIM:DEST) after the company hosted a comprehensive and positive R&D update on Tuesday, October 18.
The analysts noted that the entire meeting was focused on Destiny's late-stage assets, NTCD-M3 and XF-73, its development plans, competitive positioning, and market potential.
They concluded: "The phase III development of both assets will depend on Destiny signing partnering deals to fund the development; either or both could be catalysts for the shares."
The finnCap analysts noted that Destiny aims to sign a partnering deal on NTCD-M3 in 2022 and on XF-73 in 2023.
In late afternoon trading on Friday, Destiny Pharma shares were changing hands for 35p each.