BTIG Starts Trillium Therapeutics (TRIL) at Buy
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BTIG initiated coverage on Trillium Therapeutics (NASDAQ: TRIL) with a Buy rating and a price target of $21. Analyst Dane Leone is bullish on TTI-621, which blocks the interaction between tumor cells expressing CD47.
Leone explained, "Our analysis suggests positive optionality for Trillium’s lead therapeutic program, TTI-621, targeting CD47 in hematological malignancies. We think that CD47 is still relatively under-the radar for most investors, but could provide an important angle for combination therapy by stimulating the innate immune system. Furthermore, we think that the market is overly discounting the early stage nature of TRIL’s anti-CD47 program, given that the role of CD47 has been well characterized within pre-clinical research. Our Fair Value analysis for TRIL places the fair value share price at ~$21, which is ~28% above the current share price."
Shares of Trillium Therapeutics closed at $16.22 yesterday.
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