Brookline Capital Markets Reiterates SQZ Biotechnologies (SQZ) at Buy with $42 PT, Grant Announcement is Very Supportive of SQZ's Potential

Brookline Capital Markets analyst Leah Rush Cann reiterated a Buy rating and $42.00 price target on SQZ Biotechnologies (NYSE: SQZ), following announcement of a $2M grant from the NIH.

The analyst quotes: "Preclinical proof-of-concept data presented last year showing microfluidic cell squeezing enables the in vitro generation of induced neurons from human pluripotent stem cells through non-viral transcription factor delivery, was promising for SQZ Biotech’s potential in the central nervous system (CNS) setting. Today’s announcement for support from the NIH for program in Parkinson’s disease is very supportive of SQZ Biotech’s potential in potentially treating CNS disorders. SQZ will work to directly create dopamine-producing neurons by reprogramming a patient’s own immune cells, which if successful would be a much-needed breakthrough, and be a game-changer for Parkinson’s disease treatment. This potential CNS application of the SQZ Biotech Cell Squeeze Platform could result in a large and exciting potential market. These initiatives are early, and while we are not incorporating this potential application in our outlook, it could provide future upside, with the possibility of new cell therapies and form a foundation for future regenerative medicines."

For an analyst ratings summary and ratings history on SQZ Biotechnologies click here. For more ratings news on SQZ Biotechnologies click here.

Shares of SQZ Biotechnologies closed at $4.97 yesterday.

By Vlad Schepkov | [email protected]

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