Benzinga | Sep 13, 2021 02:54PM EDT

What's Going On With eFFECTOR Therapeutics Stock Today?

eFFECTOR Therapeutics Inc (NASDAQ:EFTR) is trading higher Monday after Cantor Fitzgerald initiated coverage on the stock.

Cantor Fitzgerald analyst Louise Chen initiated coverage on eFFECTOR Therapeutics with an Overweight rating and announced a price target of $50.

Chen cited the company's underappreciated pipeline as a reason for the rating. She expects pipeline advancements to propel the stock higher.

The Cantor Fitzgerald analyst listed five upcoming potential catalysts for the stock:

* The Tomivosertib Phase 2b topline data readout for NSCLC (non-small cell lung cancer) and the 1L extension in combo with pembro in the first half of 2022

* Zotatifin initial data from Phase 2a expansion cohorts in the first half of 2022.

* The Tomivosertib Phase 2b topline data readout for NSCLC treatment-naive patients and the 1L in combo with pembro in the second half of 2022.

* Zotatifin topline data from Phase 2a expansion cohorts in the second half of 2022.

* The announcement of additional pipeline advancements into new areas in 2022 and beyond.

eFFECTOR Therapeutics Inc is a clinical-stage biopharmaceutical company focused on pioneering the development of a new class of oncology drugs referred to as selective translation regulator inhibitors

EFTR Price Action: eFFECTOR Therapeutics has traded as high as $34.40 and as low as $26.67 so far today.

The stock was up 1.1% at $26.89 at time of publication.