H.C. Wainwright Upgrades Vor Biopharma (VOR) to a Buy, Sets a $3 Price Target

Vor Biopharma Inc. (NASDAQ:VOR) is one of the hot penny stocks to invest in nowIn a report released on June 30, Swayampakula Ramakanth from H.C. Wainwright upgraded Vor Biopharma Inc. (NASDAQ:VOR) to a Buy with a price target of $3.00. The analyst based the optimistic outlook on the company’s growth potential and strategic advancements.

A scientist in a lab coat looking through a microscope at a petri dish of hematopoietic stem cells.

Vor Biopharma Inc. (NASDAQ:VOR) recently announced an exclusive license agreement with RemeGen Co. for the development and commercialization of telitacicept in regions outside of Greater China.

Telitacicept is a promising recombinant fusion protein and has already exhibited clinical success, attaining marketing approvals in China for a number of conditions, including generalized myasthenia gravis, systemic lupus nephritis, and rheumatoid arthritis.

The analyst further reasoned that the financial structure of the agreement lends Vor Biopharma Inc. (NASDAQ:VOR) financial strength because it includes upfront payments and potential milestone payments.

Vor Biopharma Inc. (NASDAQ:VOR) is a clinical-stage cell therapy company that develops cell therapies for the treatment of cancer. It combines therapies with a novel patient engineering approach to provide a single company solution for hematological malignancies.

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Disclosure: None. This article is originally published at Insider Monkey.