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SVB Leerink Sees Over 600% Upside For This Penny Biotech Stock

Published 06/06/2022, 19:47
Updated 06/06/2022, 20:42
© Reuters. SVB Leerink Sees Over 600% Upside For This Penny Biotech Stock
SIVBQ
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  • SVB Leerink initiated Selecta Biosciences Inc (NASDAQ: SELB) coverage with an Outperform rating and a price target of $7.
  • The analysts view ImmTOR's approach to mitigate ADAs as de-risked by early clinical data from SEL-212 and believe that the ability to tame the immune response bodes well for ImmTOR's clinical potential in combination with gene and autoimmune therapies.
  • SVB sees near-term upside potential with lead candidate SEL-212 for chronic refractory gout. Pivotal trial data readout is expected in 1Q 2023.
  • Related: Selecta's Gene Therapy Trial For Genetic Metabolic Disorder Put On FDA Hold.
  • The analyst also notes its gene therapy SEL-302 for methylmalonic acidemia (MMA) with Phase 1 trial expected to start in 2H 2022, with data expected to be reported on a patient-by-patient basis.
  • Although shares are currently trading
  • "In our view, SELB represents an attractive buying opportunity for investors looking for an undervalued name with a low EV, de-risked late-stage clinical candidate, near-term news flow, and de-risked platform technology that supports long-term upside potential." SVB writes.
  • Price Action: SELB shares are up 7.31% at $0.95 during the market session on the last check Monday.
Latest Ratings for SELB DateFirmActionFromTo
Nov 2021NeedhamMaintainsBuy
Jun 2021BTIGInitiates Coverage OnBuy
Mar 2021William BlairUpgradesMarket PerformOutperform
View More Analyst Ratings for SELB

View the Latest Analyst Ratings

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