Berenberg Starts Cue Biopharma (CUE) at Buy
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Berenberg analyst Zhiqiang Shu initiates coverage on Cue Biopharma (NASDAQ: CUE) with a Buy rating and a price target of $30.00.
The analyst commented, "Cue Biopharma is developing a highly selective IL-2-based cancer therapy to treat head and neck cancer. We think potential approval opportunities (we assume 30%) for this drug in both advanced disease and front-line settings are under-appreciated by the market. Based on a favourable risk/reward profile, we believe the current valuation is an attractive entry point. We initiate with a Buy rating."
Shares of Cue Biopharma closed at $12.01 yesterday.
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