Jasper Therapeutics (JSPR) PT Lowered to $68 at RBC Capital

RBC Capital analyst Gregory Renza lowered the price target on Jasper Therapeutics (NASDAQ: JSPR) to $68.00 (from $70.00) while maintaining a Outperform rating.

The analyst comments "JSPR provided the updated timeline for briq's initial BEACON readout (CSU), now confirmed for 4Q24 (from 3Q24) and with a new 180mg Q8W dose cohort added. The driver of these adjustments according to the report and our 1x1, appeared to be the strong enrollment rate that has enabled more robust data generation and presentation from all dose cohorts. Net/net, the totality of dataset and potential for optimal dose(s) selection from this readout more than offset any optics of slightly pushed-back data timeline, in our view. Additionally, in parallel, we note that the SPOTLIGHT update in CIndU and the initiation of the asthma trial are also narrowed to 4Q24. We adjust our model per the quarter which results in $68 PT (from $70), and we reiterate our Outperform, Speculative Risk rating."

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