Mizuho Securities Upgrades Selecta Biosciences (SELB) to Buy
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Mizuho Securities analyst Difei Yang upgraded Selecta Biosciences (NASDAQ: SELB) from Neutral to Buy with a price target of $8.00 (from $2.50).
The analyst comments "We are upgrading Selecta Biosciences from Neutral to Buy, and increasing our 12-month price target from $2.50 to $8 based on our valuation of Selecta's ImmTOR platform in gene therapy. ImmTOR could enable re-administration of AAV-based gene therapies as well as initial gene therapy dosing for patients with pre-existing AAV antibodies, which would otherwise preclude treatment. We assign a platform valuation of $630 mil to ImmTOR, based on publicly-traded peers with lead gene therapy assets at similar stages of development. Available pre-clinical data in NHP is encouraging, and initial clinical data, expected in 2H21, could further validate this platform and its utility in gene therapy."
Shares of Selecta Biosciences closed at $4.05 yesterday.
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