RBC Capital Upgrades Lakefront Biotherapeutics (LKFT) to Outperform

RBC Capital analyst Brian Abrahams upgraded Lakefront Biotherapeutics (NASDAQ: LKFT) from Sector Perform to Outperform with a price target of $45.00 (from $26.00).

The analyst comments: “We are upgrading LKFT to Outperform from Sector Perform, adding Spec risk based on clinical/regulatory uncertainties potentially impacting revenue, and increasing our tgt to $45 from $26. We believe there is meaningful opportunity for gamgertamig in rare autoimmune diseases (peak non-prob.-adjusted royalties est. up to $885M) based on its potential efficacy across several indications and differentiated safety profile, near-term data should further de-risk the program and potentially draw greater investor interest, recent CAR-T hiccups may steer enthusiasm towards bispecifics like gamgertamig for autoimmune diseases, and the company's negative EV implies zero value for the asset. We see this as an opportune time to step in.”

For an analyst ratings summary and ratings history on Lakefront Biotherapeutics click here. For more ratings news on Lakefront Biotherapeutics click here.

Shares of Lakefront Biotherapeutics closed at $30.19 yesterday.

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